84 new residential buildings recorded in Offaly in the first six months of 2014

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Eighty-four new residential buildings were recorded in Offaly in the first six months of 2014, according to new figures released today by GeoDirectory.

Eighty-four new residential buildings were recorded in Offaly in the first six months of 2014, according to new figures released today by GeoDirectory.

There were 333 transactions in Offaly from June 2013 to June 2014 and the average property price was €111,339.

The new buildings are composed of 84 residential buildings, 38 commercial buildings and 5 dual-purpose buildings with both residential and commercial elements. These new additions bring the total number of buildings in Offaly to 31,974.

The new report published by GeoDirectory, cross references the Property Price Register (PPR), the CSO Census of Population and the GeoDirectory Database, to offer new, unique insights into the residential housing density, turnover, development and shortage in the country.

The database found that there were 2,019,638 residential dwellings across the country. This compares with the 2011 Census of Population which reported a total housing stock of 1,994,845 dwellings. 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.

Offaly had a residential density of 15.7 dwellings per km². Dublin had the highest residential density per square kilometre (573 dwellings per km²). Leitrim (12.4) had the lowest residential density, followed by the Western counties of Mayo (12.6) and Roscommon (13.1).

A total of 3,640 dwellings were classified as being under construction in the GeoDirectory Database in July 2014. Cork (13.5% of all dwellings under construction in the country), Donegal (12.5%), Galway (6.8%) and Dublin (6.4%) dominated in this area.

GeoDirectory was jointly established by An Post and Ordnance Survey Ireland (OSi) to create and manage Ireland’s only complete database of commercial and residential buildings. The figures are recorded through a combination of the An Post network of 5,600 delivery staff working with OSi.

By combining data on residential property transactions from the PPR and the GeoDirectory Database, an estimate of the rate of turnover of the housing stock can be ascertained. The housing turnover rate in Offaly is 1.1%. The national average housing turnover rate from June 2013 to June 2014 was 1.4%, with Dublin (9,717 transactions or 1.8% of the total Dublin residential stock) experiencing the greatest turnover in housing stock. Donegal, Monaghan and Mayo (all 0.9%) each had the lowest rates of housing turnover in the country for the period.

Commenting on the findings, Dara Keogh, CEO, GeoDirectory said “Using the GeoDirectory database allows for a much clearer picture of the residential property stock in Ireland. The data confirms that high population and lack of stock are all major contributing factors to Dublin’s urgent housing needs.”

Annette Hughes, Director of DKM Economic Consultants said “This is the first comprehensive report about the residential building stock of its kind to be published in Ireland. By using the data from the PPR, the CSO Census of Population and the GeoDirectory Database we have a unique insight into the residential building stock in Ireland. One key statistic which the report highlighted was that the national average housing turnover rate in the year to June 2014 was 1.4%, well below what would be deemed to be a more normal housing turnover rate of around 4 to 5%.”

The GeoDirectory database is a comprehensive address database of dwellings in the Republic of Ireland. The following statistics relate to dwellings in the database as of the 7th July 2014.

A copy of the GeoView Residential Buildings Report is attached in PDF format and is available at www.geodirectory.ie and www.dkm.ie