By the end of last year, there were 600 new residential buildings under construction in Cavan and Monaghan. 404 residential buildings were under construction in Monaghan in December 2023, while 320 new address points were recorded. In Cavan, there were 259 new addresses points added last year and 396 residential buildings under construction by the end of the year.
Those figures were released today by GeoDirectory, Ireland's only complete database of commercial and residential buildings. The figures are recorded through a combination of the An Post network of 5,600 delivery staff working with Ordnance Survey Ireland. The figures based on data collected last year also shows that in the 12 months leading up to December 2023, 259 residential address points in Cavan and 320 in Monaghan were added to the database.
The residential vacancy rate in the Northern Sound region stood at 7 per cent in Cavan and 4.9 per cent in Monaghan, while the national average is 3.9 per cent. The report also shows there were 669 residential property transactions in Cavan in the 12 moths up to October 2023 where the average property price coming in at €207,324. Meanwhile, in Monaghan there were around half the number of transactions than in Cavan at 369 but the average price of a property in Monaghan is reported at €222,764]
