The commercial vacancy rate in Wexford was reported at 10.6% in June 2024, showing no change from the same period in 2023. This figure is notably lower than the national average of 14.4%.
Among the towns surveyed, New Ross had the highest commercial vacancy rate at 23.2%, while Gorey recorded the lowest at 10%. This indicates a significant disparity within the county, with some areas facing more challenges than others.
In terms of overall commercial vacancy rates, Wexford ranks second lowest in the country, just behind Meath, which has a rate of 9.8%. Other counties with relatively low rates include Cork at 12.4% and Kerry at 12.5%.
The national commercial vacancy rate has reached its highest level since GeoDirectory began tracking these figures in 2013, currently standing at 14.4%. The increase in vacancy rates is attributed to several factors, including changing consumer habits, the rise of online commerce, and economic pressures such as rising business costs.
The stability of Wexford’s vacancy rate amidst a national increase suggests that while challenges exist, there may be opportunities for targeted regeneration projects to address vacant properties and support local businesses.
The report emphasizes the need for innovative solutions to repurpose long-term vacant buildings, particularly in areas like New Ross that are experiencing higher vacancy rates.
Overall, while Wexford’s commercial vacancy rate remains relatively stable compared to national trends, continued efforts will be necessary to enhance economic activity and reduce vacancies in affected towns.
