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24/09/2021

Over 1,300 residential properties are currently under construction in Louth

'Stringent checks' needed on  opening of Dundalk building sites - TD

A construction site

New figures show that there are over 1,300 residential buildings under construction across Louth as of June 2021, according to the newest GeoView Residential Buildings Report.

The report, issued by GeoDirectory and EY Economic Advisory this morning, shows that there are currently 1,360 residential buildings being built in Louth as of June 2021.

This is the fifth-highest level of construction in the country, behind counties like Dublin, Meath, Kildare and Cork.

According to the report, over half of the residential buildings under construction across the country are in Leinster, at 58.4%. The bulk of these buildings are being built in Dublin, Meath, Kildare and Wicklow, with 35.6% of the entire country’s residential construction taking place in these counties.

The report also said that there were an additional 880 residential addresses in Louth added to the GeoDirectory database in the last 12 months since June 2020.

The number of apartments in Louth was also featured in the report, with 4.6% of all housing in Louth being apartments.

Currently, Louth has the tenth highest number of apartments compared to its housing stock, with Dublin being the highest at 22.6%.

The current vacancy rate in Louth is now at 3.1%, which is lower than the national average of 4.5%.

According to the report, there are a total of 92,135 vacant residential properties in the state as of June 2021.

At a recent Louth County Council meeting, councillors were told that LCC expects that the 2021 voids programme will return the vast majority of vacant properties in Louth back into livable condition.

Paddy Donnelly, the Director of Housing and Community Services said that the funding from the 2021 voids programme would bring all but two vacant properties back to be leased by the council.

Mr Donnelly also said that the council is currently working to secure funding to bring back the final two properties, which require more funding to restore.

The GeoDirectory report also shows that the average price of a house in Louth from May 2020 to 2021 was €234,363.

Of all residential property transactions in Louth between that same period, 22.7% of them involved new houses.

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