Mayo’s commercial vacancy rate stood at 15 percent in the 4th quarter of last year (2017), according to the latest GeoDirectory Geoview Commercial Vacancy Report.
The research reveals that three quarters (74 %) of the vacant commercial address points in Mayo have been empty for over three years.
Overall, the national commercial vacancy rate in Ireland in the same period was 13%.
Commercial activity remains concentrated on the East coast of Ireland, with the Greater Dublin Area accounting for 33 percent of the overall national stock. This is in stark contrast to Connacht and Ulster, with these provinces only accounting for 14 % and 8 % of the national stock respectively.
Despite evidence of progress, the report highlights a continued imbalance between Dublin and the rest of the country, as commercial vacancy rates remain stubbornly high outside the capital.
In total, GeoDirectory data shows that 15 counties registered vacancy rates higher than the national average in Q4 2017, unchanged from twelve months ago. They include Sligo, at 19%, was the county with the highest vacancy rate, followed by Galway (16%), Leitrim (16%) and Mayo (15%).
At the other end of the scale, Kerry recorded the lowest vacancy rates.
In Mayo, Ballina at 24 % was the town with the highest commercial vacancy rate in Q4 2017. Westport was the town with the lowest commercial vacancy rate in Mayo at 12%.