Cavan's problem with vacant commercial properties outlined in report

 

Cavan’s commercial vacancy rate stood at 12.9% in Q4 2017, representing an increase of one  percentage point compared to the same period in 2016. 

The GeoDirectory Geoview Commercial Vacancy Report reveals that 69.3% of the vacant commercial address points in Cavan have been empty empty for over three years.

Overall, the national commercial vacancy rate in Ireland dropped slightly from 13.5% in Q4 2016 to 13.3% in Q4 2017.

Commercial activity remains concentrated on the East coast of Ireland, with the Greater Dublin Area accounting for 33.2% of the overall national stock. This is in stark contrast to Connacht and Ulster, with these provinces only accounting for 13.7% and 7.8% of the national stock respectively.

In Dublin, the commercial vacancy rate fell to 12.4%, a drop of 1.3pp compared to last year, with 16 of the 22 postal districts recording a vacancy rate below the national average of 13.3%. Dublin 2, experienced a drop of 6.4pp, the most significant reduction in the city. Dublin 8, at 16.7%, has the highest commercial vacancy rate of all the Dublin postal districts.

Outside of the capital, there is evidence that the economic recovery is beginning to spread, albeit slowly, beyond the Greater Dublin Area. Modest reductions were recorded in Leitrim (-0.8pp), Donegal (-0.5pp), Limerick (-0.3pp), Waterford (-0.3pp) and Mayo (-0.3pp).

Despite evidence of progress, the report highlights a continued imbalance between Dublin and the rest of the country, as commercial vacancy rates remain stubbornly high outside the capital. In total, GeoDirectory data shows that 15 counties registered vacancy rates higher than the national average in Q4 2017, unchanged from twelve months ago. Sligo, at 18.7%, was the county with the highest vacancy rate, followed by Galway (16.2%), Leitrim (15.6%) Mayo (15.3%) and Longford (15.1%). At the other end of the scale, Kerry (10.5%), Meath (10.7%) and Wexford (10.8%) recorded the lowest vacancy rates.

At a provincial level, Leinster, excluding Dublin, (12.6%) and Munster (13.0%) had a vacancy rate below the national average of 13.3%, while Ulster (14.0%) and Connacht (16.1%) were higher.