Residential vacancy rate in Wicklow was below national average for 2022

872 residential buildings were under construction in Wicklow in December 2022, according to the latest GeoDirectory Residential Buildings Report.

The study of residential property data, prepared in association with EY, found that in the twelve months to December 2022, 1,427 new residential address points were added to the GeoDirectory database in Wicklow.

The total of 872 new address points recorded in Wicklow in the twelve months to December 2022 represents an increase of 55 per cent compared to the corresponding period in December 2021.

Nationally, a total of 28,510 residential address points were added to the GeoDirectory database. Over half (52.8 per cent) of the new residential address points were located in the Greater Dublin Area of Dublin, Kildare, Meath and Wicklow.

The residential vacancy rate in Wicklow was 3.2 per cent in December 2022, which was lower than the national average of 4.0 per cent.

The national average vacancy rate dropped 0.4 percentage points to 4.0 per cent in December 2022, the lowest figure recorded by GeoDirectory to date.

In the twelve months to October 2022, there were 1,778 residential property transactions in the county with an average property price of €467,154. This was higher than the national average of €354,060

The average residential property price increased by 9.5 per cent to €352,083 in the twelve months to October 2022, with the average price rising in every county.

Almost one-in-five of all residential property transactions in the state involved a new dwelling (18.2 per cent), with the highest proportion of new dwellings were purchased in Kildare (43.5 per cent), Meath (36.6 per cent) and Wicklow (34.8 per cent).

Commenting on the findings of the latest GeoDirectory Residential Buildings Report, Dara Keogh, CEO of GeoDirectory said: “The data shows that construction activity and supply of housing stock increased significantly in 2022, but it is still lagging well behind the current rate of demand. The number of residential buildings under construction and additions to the housing stock over the past twelve months would indicate that the sector has moved past the disruption brought about by Covid-19.”