OVER 1,000 new address points have been registered in Limerick over the past 12 months, new figures from GeoDirectory show.
1,064 new residential address points were added GeoDirectory database (a compilation of building addresses across Ireland) in the 12 months to June 2024, with a further 825 currently under construction, according to the Residential Buildings Report prepared by EY.
The database shows that Limerick’s residential vacancy rate was marginally below the national average at 3.8 per cent.
The average national vacancy rate is 3.9 per cent, noting a total of 82,031 vacant properties across Ireland this June.
A further 20,413 residential buildings were classified as derelict in
June 2024, with 5.3 per cent of these located in Limerick.
Dara Keogh, GeoDirectory CEO said that the report shows an increase in the number of address points added nationally.
“We have seen a significant increase of over 17 per cent in the number of new address points recorded over the past twelve months, which combined with the number of buildings under construction, suggests a strong performance in terms of housing delivery for 2024. However, demand continues to outpace supply despite considerable progress,” he said.
Annette Hughes, EY Economic Advisory director, said the “substantial increase year-on-year in new address points and the almost 48,000 property transaction recorded in the year to May are encouraging signs for housing activity”.
“When we dig into the details, we can see that … regional postcode areas are also performing well, with the postcodes V94 in Limerick and H91 in Galway recording the highest transactions amongst the principal post town codes.”
