Westmeath’s commercial vacancy rate has fallen to 11 percent in the second quarter of the year, a decrease of 0.2 percentage points compared to the same period in 2017 according to the latest GeoView Commercial Vacancy Rates Report, published by GeoDirectory.
Athlone, at 18.4 percent is the town boasting the highest commercial vacancy rate, while Moate, at 11.7 percent has the lowest commercial vacancy presently in the county.
The national commercial vacancy rate stands at 13.1 percent, with 14 counties recording a decline in commercial vacancy rates compared to only two counties at the same period in 2017. This suggests that the economic recovery is slowly beginning to take hold outside of Dublin. However, there is still a clear divide between counties in the east and west of the country and in urban and rural areas, in terms of commercial vacancies.
At a provincial level, Leinster’s commercial vacancy rate stands at 12.3 percent, while at the other end of the scale, Connacht had the highest provincial commercial vacancy rate at 16.3 percent. Of the ten counties with commercial vacancy rates lower than the national average, six were located in Leinster. All five counties in Connacht had commercial vacancy rates higher than the national average.
Speaking about the findings of the latest GeoView Commercial Vacancy Rates Report, Dara Keogh, CEO of GeoDirectory said, “we are beginning to see evidence that the economic recovery is taking hold outside of Dublin, albeit at a slow pace. Fourteen counties recorded a drop in commercial vacancy rates in the year to date, compared to only two at this point last year. While this is a positive development, economic activity is still centred around Dublin, with the Midlands lagging behind.”
A copy of the GeoView Commercial Vacancy Rates Report is available at www.geodirectory.ie