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House building up as Covid-19 restrictions eased

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“The emerging evidence is against the idea that Dublin property prices will suffer from people working from home and spreading out.” Stock photo

“The emerging evidence is against the idea that Dublin property prices will suffer from people working from home and spreading out.” Stock photo

“The emerging evidence is against the idea that Dublin property prices will suffer from people working from home and spreading out.” Stock photo

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The number of new residential address points added to the GeoDirectory database in Louth in the twelve months to June 2020 was 477 according to the latest GeoView Residential Buildings Report.

Nationally, the number of new address points fell by 32.9% year-on-year in the twelve months to June 2020, the first indication of the impact that Covid-19 has had on residential housing supply in Ireland.

But the report highlighted some bounce back locally after the lifting of Covid-19 restrictions, with a total of 619 residential buildings under construction in Louth in June 2020.

In total, 16,617 new address points were recorded, with over half (50.5%) located in the Greater Dublin Area of Dublin, Meath, Kildare and Wicklow.

Dublin continues to be the driving force in terms of residential housing supply, with 30.2% of all new address points found in the capital.

The report also shows there were 1,082 residential property transactions in Louth in the twelve months to May 2020, of which 20.3% were new builds.

In Ireland, there were 41,363 residential property transactions in total over the same time period, of which 18.8% were new dwellings.

In Louth, the average house price was €220,148. Nationally, the average house price increased by €3,643 (1.2%) to €296,758 in the twelve months to May 2020. When Dublin is excluded, the national average house price stands at €230,492.

The average vacancy rate in Louth was 2.9%, lower than the national average of 4.5%. Vacancy rates declined in 25 out of 26 counties in the State, with Dublin remaining the county with the lowest residential vacancy rate in the country at 1.3%, followed by Kildare (2.0%) and Wicklow (2.9%).


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