Here’s how many homes are actually being built right now in Cork
Ireland’s housing crisis is rumbling on.
But a new report shows that work is at least continuing on building and renovating homes on Leeside.
A total of 2,393 residential buildings were under construction in Cork in December 2022, according to the latest GeoDirectory Residential Buildings Report. The study of residential property data found that in the twelve months to December 2022, 3,201 new residential address points were added to the GeoDirectory database in Cork.
Of the 22,008 residential buildings under construction nationally in December 2022, almost one-in-five (18.4 percent) were located in Dublin.
Cork represented 10.9% of the national total, with the remaining counties of Munster bringing the percentage share to 21.9 percent.
In the twelve months to December 2022, 3,201 new residential address points were added to the GeoDirectory database in Cork
The residential vacancy rate here was 3.8 percent, which was lower than the national average of 4.0 percent. The average property price of €321,420 was also lower than the national average of €354,060.
“The data shows that construction activity and supply of housing stock increased significantly in 2022, but it is still lagging well behind the current rate of demand,” said Dara Keogh, CEO of GeoDirectory.
“The number of residential buildings under construction and additions to the housing stock over the past twelve months would indicate that the sector has moved past the disruption brought about by Covid-19.”