3-2-16: COMMERCIAL VACANCY RATES INCREASE IN WICKLOW
Commercial vacancy rates in Wicklow have increased, from 12.2% in Q4 2014 to 12.5% Q4 2015, according to new research published by GeoDirectory. The total number of occupied commercial premises in Ireland increased throughout 2015 from 194,642 in Q4 2014 to 195,803 in Q4 2015.
The new research is from the Q4 2015 edition of GeoView which is published twice a year. It is the third annual review of commercial vacancy rates in Ireland that not only provides national data but also analyses the data by quarter, by county, by province and across a broad range of sectors in the Irish economy.
The review found that the national average commercial vacancy rate in Q4 2015 was 12.6%. This figure represents a decrease in commercial vacancy of 0.2 percentage points since Q4 2014. 16 counties recorded a decrease in commercial vacancy rates between Q4 2014 and Q4 2015. Kerry recorded the lowest vacancy rate of any county in Q4 2015 at 9.2%. Sligo recorded the highest commercial vacancy rate of any county in Q4 2015 at 16.4%. Both counties held the same rankings in Q4 2014.
The commercial vacancy rate declined in 16 counties during 2015 - 10 of those were in Leinster and 3 were in Munster. However a number of counties in Connaught and Ulster have yet to recover and are still showing an increase in vacancy rates. The average commercial vacancy in Ulster increased from 12.5% in Q4 2014 to 12.7% in Q4 2015, while the vacancy rate in Connacht went from 14.7% in Q4 2014 to 14.8% in Q4 2015. Both Munster (11.9%) and Leinster (12.4%) saw a decrease of 0.2 percentage points each between Q4 2014 and Q4 2015. Leinster's commercial vacancy rate was unchanged from Q2 2015 with just 2 counties, Wexford (10.1%) and Wicklow (12.5%), recording increases over the year.