1,487 new address points recorded in Meath 2023 with 1,423 residential buildings under construction

A GeoDirectory report for Q4 2023 recorded 1,487 new residential address points in Meath and 1,423 residential buildings under construction in Meath.

The report, prepared by EY, found that Dublin and Leinster counties continue to record the highest levels of new construction activity in Ireland. Of the total number of residential buildings under construction in December 2023, 15.7 per cent were in Dublin. After Dublin, building levels were highest in Cork (12pc of total), Kildare (11.9pc) and Meath (6.2pc).

In the twelve months to December 2023, a total of 28,742 new residential address points were added to the GeoDirectory database, representing a slight increase of 0.8 per cent compared to the corresponding period in December 2022. Over half of the new address points were located in the Greater Dublin Area of Dublin, Meath, Kildare and Wicklow (50.3pc), while Dublin itself accounted for over a third (33.2pc) of all new residential addresses.

The residential vacancy rate in Meath was 2.4 per cent in December 2023, lower than the national average of 3.9pc. The national average vacancy rate dropped 0.1 per centage point to 3.9pc in the twelve months to December 2023. After Q2 2023, this is the second consecutive report in which the residential vacancy rate has dipped below 4.0pc and remains the lowest recorded by GeoDirectory since reporting started in 2013.

In total, there were 81,449 vacant units identified nationwide.

There were 2,341 residential property transactions in Meath in the twelve months to October 2023, with an average property price of €357,582. The average residential property price increased by 4.7 per cent to €370,709 in the twelve months to October 2023, with the average price rising in every county.

The average cost of a residential property in Dublin was €536,472, while Longford was the county with the lowest average price at €176,823.When Dublin is excluded from the study, the national average house price falls to €300,319.

The only other counties to record house prices above the State average were Wicklow (€471,219) and Kildare (€392,587). The lowest average house prices were recorded in Longford (€176,823), Leitrim (€180,952), and Roscommon (€187,609).

Commenting on the findings of the GeoDirectory Residential Buildings Report, Dara Keogh, CEO of GeoDirectory said: “Over the past twelve months we have seen increases in the number of buildings under construction and new residential address points across the State, which is a positive development. The report has also identified a continued drop in the number of vacant and derelict properties, which would indicate that efforts and policies to bring these units into the housing stock are having an impact.”

Annette Hughes, Director of EY Economic Advisory Services said: “The latest GeoDirectory Residential Buildings Report shows continued progress in increasing housing supply and reducing the number of vacant and derelict properties right across the country. Encouragingly, we are seeing all of the key the indicators pointing in the right direction, including construction (up 3.5 per cent), new address points added (up 0.8 per cent), as well as lowest recorded vacancy rate since 2013 and further significant reductions in dereliction (down 7.9 per cent). The lagged effect of national policy frameworks and incentives is becoming visible in the data, however it is crucial that the momentum is maintained.”