Over 740 new address points recorded in Kilkenny in 2023, with 571 residential buildings under construction

Over 570 residential buildings were under construction in Kilkenny in December 2023, while 746 new address points were recorded, according to the latest GeoDirectory Residential Buildings Report, published today.

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% were in Dublin. After Dublin, building levels were highest in Cork (12% of total), Kildare (11.9%) and Meath (6.2%).

New Additions to GeoDirectory Database
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% 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 (50.3%), while Dublin itself accounted for over a third (33.2%) of all new residential addresses.

Vacant and Derelict Properties
The residential vacancy rate in Kilkenny was 2.8% in December 2023, lower than the national average of 3.9%.

The national average vacancy rate dropped 0.1 percentage point to 3.9% 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 4.0% and remains the lowest recorded by GeoDirectory since reporting started in 2013.

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

The highest residential vacancy rates continue to be found in the west of the country, with Leitrim (12%), Mayo (10.7%) and Roscommon (10.4%) recording the highest levels of vacancies.

The vacancy rate in Dublin was 1.0% in December 2023, the lowest in the country, followed by Kildare (1.1%), Meath (2.4%) and Waterford (2.5%).

The GeoDirectory Residential Buildings report also found that the number of derelict residential address points fell by 7.9% in the twelve months to December 2023 with a total of 20,780 derelict units identified across the State.

The highest proportion of derelict address points are located on the west coast of Ireland, with Mayo registering the highest concentration, at 13.7% of national total, followed by Donegal (11.7%) and Galway (8.7%).

Average Property Prices and Transactions
There were 730 residential property transactions in Kilkenny in the twelve months to October 2023, with an average property price of €300,685.

The average residential property price increased by 4.7% to €370,709 in the twelve months to October 2023, with the average price rising in every county. 

“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," said Dara Keogh, CEO of GeoDirectory.

"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%), new address points added (up 0.8%), as well as lowest recorded vacancy rate since 2013 and further significant reductions in dereliction (down 7.9%). The lagged effect of national policy frameworks and incentives is becoming visible in the data, however it is crucial that the momentum is maintained," she said.