Mayo had a housing turnover rate of 1.6 per cent, below the national turnover rate, according to new research published by GeoDirectory. Despite a low national turnover rate of 2.2 per cent, Irish residential construction levels are still too low to match demand. This point is further reinforced by cross referencing the Property Price Register (PPR ), the CSO Census of Population and the GeoDirectory Database.
The GeoDirectory database found that there were 2,008,568 residential dwellings across the country, an increase of 13,062 in the 12 months to the end of July 2015. There was a total of 66,428 dwellings in Mayo. The GeoDirectory database distinguishes between a ‘dwelling’ which is a single residential unit as opposed to a ‘building’ which can comprise one or more dwellings.
According to the GeoView report, Dublin had the highest residential density per square kilometre by a large margin (571 dwellings per km² ). The next highest ranked county, Louth (63 ), had a substantially lower density, followed by Kildare (47 ). Leitrim and Mayo (both 12 ) had the lowest residential densities. Leitrim’s small population and Mayo’s relatively large area are the likely explanations for this.
Uniquely, this report supplies a breakdown of the types of dwellings in Ireland. Detached dwellings accounted for the largest proportion at 41.7 per cent of the total housing stock. The country’s stock of 181,424 apartments, nine per cent of the total housing stock, points towards a change in Irish lifestyle, as more people are moving towards the large urban centres. Dublin accounted for the vast majority of this national proportion, as 114,612 apartments (63.2 per cent ) were located in the capital.
Unsurprisingly, the capital had the highest average transaction price (€342,284 ) in the country over the 12 months from June 2014 to June 2015. Given the low levels of construction in the last 12 months, the upward trend in prices is likely to increase. Wicklow had the second highest average price at €277,394. Longford had the lowest average transaction price in Ireland at €75,583. This was followed by Roscommon at €82,517. There were 1,090 transactions in Mayo with an average price of €109,159.
A total of 3,786 buildings were classified as being under construction in the GeoDirectory Database in Q2 2015. Dublin (13.3 per cent of all buildings under construction in the country ) dominated in this area. Mayo had 3.4 per cent of all buildings under construction in Ireland.
