GALWAY BUCKS DOWNWARD TREND IN NEW BUILDINGS

Date Published: 09-Jul-2012

There’s been a 44 percent increase in the number of new residential and commercial buildings in Galway for the first six months of the year, bucking the national trend.

Figures compiled by GeoDirectory show that 661 new builds were recorded in the six month period, up from 459 on the same period last year.

Vacancy rates for Galway’s new builds now stand at 11 percent, just under the national average which is trending at 12 percent.

Leitrim has the largest vacancy rates for new buildings at 20 percent, while more new buildings were recorded in Cork City and County than anywhere else, with 825 additions in the 6 months to the end of June.

Today’s figures show a continuing year on year national decrease of 23 percent compared to the same time in 2011, when 7,330 new buildings were added to the GeoDirectory database.

Dara Keogh, CEO of Geo-Directory, says Galway is one of seven counties to buck the national downward trend.