New additions of residential housing stock

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A total of 464 residential address points in Waterford were added to the GeoDirectory database in the twelve months to December 2018, according to the latest GeoView Residential Buildings Report, published by GeoDirectory. Nationally, 21,207 dwellings were added. The vast majority of these new addresses were located in Leinster region (65.6%), with Dublin accounting for over a third (35.2%) of the overall total.
Last month (December), 219 residential buildings were classified as being under construction in Waterford according to the GeoDirectory database.

The Greater Dublin Area was responsible for 55.1% of overall construction activity, an increase of 5.1pp on the regions previous year’s share. Residential construction activity in Ulster and Connacht recorded the lowest shares of construction activity in the State, accounting for 4.9% and 7.5% respectively.
Waterford’s vacancy rate is 3.6%, which is lower than the national average of 4.8%. In total, 19 out of 26 counties experienced a decline in residential vacancy rates over the past 12 months. Dublin is the county with the lowest vacancy rate at 1.1%, however it was one of only seven counties to experience an increase in vacancy rates, up 0.3pp on its corresponding rate last year.

According to the latest GeoView Residential Buildings Report, 1,392 residential property transactions took place in Waterford in the 12 months to October 2018. Of this total, 13.7% were new dwellings, lower than the national average of 20.7%. The average residential property price in Waterford in 2018 was €170,690, lower than the national average of €284,546. Residential property prices in Waterford increased by 7.6% across the twelve months, equating to €1,010 per month.
In Waterford, the town with the highest average residential property price was Dungarvan (€213,043).

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