People are still building in Cork, Despite the downturn – new stats

Do you have trouble finding addresses? It can be hard in Ireland as we lack postcodes. Yes there are loc8te codes (previously known as PON Codes) but most people don’t know their own! so you’ll have to look it up. Well if you’re on the web forget that step and instead checkout the GeoDirectory.

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 area recorded through a combination of the An Post network of 5,600 delivery staff working with OSi.

GeoDirectory has released new Cork figures. They show a 6% increase in new buildings in Cork in first half of 2012

878 new residential and commercial buildings were recorded in Cork for the first six months of 2012, according to new figures released today by GeoDirectory. The figures represent a year-on-year increase of 6% compared to the same period in 2011 when 825 new buildings were added in the county.

Across the country, GeoDirectory recorded 5,620 new buildings, consisting of 4,837 residential buildings, 590 commercial buildings and 193 dual-purpose buildings with both residential and commercial components. The new additions for the first six months of 2012 bring the total number of new buildings in the Republic of Ireland to 1,889,143.

New data shows that 658 or 12% of this new commercial and residential stock are vacant. Cork has a vacancy rate for new building additions of 14%, above the national figure.

The 878 new buildings identified in Cork were composed of 777 residential buildings, 69 commercial buildings and 32 were dual-purpose buildings with both residential and commercial elements. These new additions bring the total number of buildings in Cork to 222,687.

The increase in new building additions in Cork in the first half of 2012 of 6% is in contrast to the 23% fall recorded nationally.

Six other counties (Carlow, Clare, Galway, Leitrim, Offaly and Tipperary) across the country also bucked the national trend experiencing an increase in new building additions compared to the same period in 2011. The average increase recorded across these counties was 106%, with the largest increase of 323% being recorded in Leitrim, with 127 new buildings added.

The highest increase in new buildings was recorded in Cork City and County where 777 residential and 69 commercial properties were completed during the first half of the year. In contrast, Kerry recorded the lowest number of new additions and the largest year on year decrease of 91%, with 30 residential and just 5 commercial properties completed in the first six months of 2012.

Commenting on the figures, Dara Keogh, CEO, GeoDirectory said, “Current figures for new additions represent a 94% decrease from the peak in 2007, when GeoDirectory identified 60,781 new commercial and residential buildings across the country. The new figures have identified a vacancy rate nationally of 12% for new building additions, which in effect would mean that 9 out of 10 new commercial and residential buildings are occupied.

This positive trend is supported by the growth in new additions across seven counties, with Cork City and County having the highest increase in new building added of 777 in the Republic of Ireland. Of these counties, Carlow and Offaly have built on the growth in new additions recorded for the same period in 2011. ”

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