Almost 35,000 residential address points were added to a key directory database last year, an increase of more than 20 per cent on the 2023 figure.
However, according to a new report published by database company GeoDirectory, the number of homes under construction at the end of the year was down more than 2 per cent from the previous year.
The company was jointly established by An Post and property registration and valuation agency Tailte Éireann. It has developed a database mapping the almost two million buildings that receive post in the State, making it the most comprehensive resource of its kind.
Its Residential Buildings Report published today and prepared by EY shows that 34,686 new residential address points were added to the database last year.
Ireland boss Simon Easterby makes some bold and exciting selections for Wales clash
Working from home is here to stay and has whole new language about ‘hidden hybrid’ and ‘mouse jiggling’
Luis Rubiales found guilty of sexually assaulting Spanish footballer Jenni Hermoso
Ancient remains discovered in Co Derry bog ‘likely to belong to young woman’ who died violently
That is up 20.7 per cent on 2023 which equates to an additional 5,944 addresses.
The highest proportion of new address points added to the database was in Dublin, where 38.1 per cent of the overall total was recorded, followed by Cork on 10.8 per cent. Meath contributed 5.7 per cent of the new homes while in Kildare the increase was put at 4.7 per cent.
Of the 22,251 buildings under construction in December, just over 4,000 were going up in Dublin compared with slightly more than 3,000 being built in Cork and 1,438 in Kildare.
Building activity was weakest in Longford where only 85 buildings were under construction, followed by Leitrim and Roscommon.
The national vacancy rate has fallen again, continuing a trend noted by GeoDirectory in recent years It found that 2.3 per cent of residential properties were vacant in the last quarter of last year, a 0.1 per cent decline when compared to the same period in 2023.
The highest vacancy rates in the country were found in the west of Ireland with Leitrim, Mayo and Roscommon recording rates of between 10 and 12 per cent.
At the other end of the scale, the lowest vacancy rates were found in Dublin where just 1.2 per cent of residential properties were vacant in the last quarter of the year while in Kildare it was put at 1.5 per cent.
A total of 20,092 residential address points were classified as derelict at the end of last year – 3.3 per cent lower than at the same point in 2023.
The highest concentration of derelict properties was recorded in Mayo on 14 per cent followed by Donegal on 11.6 per cent and Galway on 8.8 per cent.
The average residential property price increased by 7.2 per cent to €399,763 in the 12 months between November 2023 and November 2024 with increases recorded in every county countrywide.
How does Ireland fix its dysfunctional rental sector?
The highest property price was in Dublin, with an average of €565,351. The average price in Wicklow was put at €488,829 while in Kildare it was €412,839.
The lowest average prices were recorded in Leitrim at €190,000 and Longford where average prices were said to be €196,532.
“The number of buildings under construction has remained relatively stable, indicating that the strong pipeline of new homes will continue into 2025,” noted GeoDirectory chief executive Dara Keogh.
Annette Hughes of EY said the report “spotlights a continuing and encouraging downward trend in both national vacancy and dereliction rates, as our growing population and policy initiatives are having an impact”.
Ms Hughes said that more broadly “while the number of new address points increased significantly last year, it will be critically important ... to ensure the right policies, housing supports and infrastructure are in place to accelerate the delivery of housing supply for all tenures in the right locations.”
