Revealed: Over 300 residential buildings under construction in the Premier County

The latest GeoDirectory Residential Buildings Report has found that 217 new residential address points were added to the GeoDirectory database in 2021 in Tipperary, while a further 315 residential buildings were under construction in the county in Q4 2021.

The report, published by GeoDirectory and prepared by EY, found that the number of new residential address points added to the GeoDirectory database nationally in 2021 fell by 17.4% compared to the previous year.

In total 18,047 new address points were recorded in Ireland in 2021, with over a quarter located in Dublin (29.6%), a year-on-year decrease of 26% in the capital.

Following the temporary closure of construction sites in early 2021 due to Covid-19 public health measures, residential construction activity rallied strongly in the second half of 2021.

In Q4 2021, 19,495 residential buildings were under construction, a notable 16.5% increase on the corresponding figure in Q4 2020.

Residential construction activity was strongest in the Leinster region, with 59.7% of all buildings under construction in Q4 recorded in the province.

At 15.1%, the highest share of the country’s residential construction activity was in Dublin.
In Q4 2021, the vacancy rate in Tipperary stood at 5.7%.

This was higher than the national vacancy rate of 4.4%. In total, there were 90,158 vacant dwellings recorded in the State in Q4 2021, representing 4.4% of the national housing stock. Year-on-year residential vacancy rates decreased in 20 of the 26 counties.

The lowest residential vacancy rates in the country were found in Dublin (1.4%), Kildare (2.1%), and both Waterford and Louth (2.8% each).

The three counties with the highest residential vacancy rates in Q4 2021 were found in Connacht, which had a province-wide vacancy rate of 9.2%, down 0.2ppts on Q4 2020.

Leitrim remained the county with the highest residential vacancy rate at 13.3%, although this was notably 1.3ppts lower than the previous year.

After Leitrim, Mayo (11.9%) and Roscommon (11.6%) recorded the next highest vacancy rates.

GeoDirectory defines a derelict building as one which has typically been dormant for several years and requires structural work or reconstruction before it can be re-occupied.

A total of 1,217 derelict residential units were located in Tipperary in December 2021. In December 2021, there were 22,096 derelict residential units across the country.

This represented a 7.3% drop in the number of units since December 2016.

The average residential property price in Tipperary was €188,516 in the twelve months to October 2021, with a total of 1,193 transactions taking place.

Looking specifically at the towns in the county, the highest average residential property price was in Nenagh at €199,107.

The lowest average house price over the 12 months to October 2021 was recorded in Longford, at €142,298.

Dara Keogh, CEO of GeoDirectory said: “Covid-19 has proved to be a substantial speed-bump for the delivery of housing supply in Ireland. The knock-on impact of the closure of construction sites in early 2021 can be seen in the relatively low number of new address points added to the GeoDirectory database, which was down 17.4% on the previous year. However, residential construction activity has rebounded strongly since reopening fully in April, with 19,495 buildings recorded as being under construction in Q4 2021, the highest figure recorded since we started this report in 2014. This indicates a strengthening residential supply pipeline going into 2022.”