The national residential vacancy rate hit 3.9% in June, the lowest ever recorded.
New figures from GeoDirectory show that 81,712 residential properties were recorded as vacant last month.
GeoDirectory is Ireland's official complete database of commercial and residential buildings.
The vacancy rate dropped 0.3% when compared to the same time last year.
Dublin was the county with the lowest residential vacancy rate in June 2023, at just 1%.
This was followed by Kildare at 1.2%, Waterford at 2.3%, Meath at 2.3% and Louth at 2.5%.
The highest vacancy rates were reported in Connacht, with Leitrim, Mayo and Roscommon the only counties with rates above 10%.
A total of 21,134 residential properties were classified as derelict last month, a fall of 3.5% compared to the same time last year.
Mayo had the highest number of derelict properties, followed by Donegal and Galway.
Construction
Today's data reveals that 22,842 residential buildings were under construction in the second quarter of the year, up 2% on the same time last year.
Construction activity was strongest in Leinster, accounting for almost two thirds of building activity.
Dublin was the county with the highest proportion of residential buildings under construction at 17.2% of the national total, followed by Kildare at 15%, Cork at 10.7% and Meath at 6.7%.
The Greater Dublin Area, which consists of Dublin, Meath, Kildare and Wicklow, accounted for almost 44% of the total number of buildings under construction nationally in the second quarter of the year.
6,796 new residential address points were recorded across Ireland in the twelve months to the end of June 2023, down almost 22% compared to the same period in 2022.
"While the latest report highlights a decrease in the number of new address points recorded in the last year, we have seen increased utilisation of the housing stock and an increase in the pipeline of new housing stock under construction," said Dara Keogh, Chief Executive of GeoDirectory.
"The drop in output over the last 12 months may be due to material supply issues, inflationary pressure on the construction sector along with rising interest rates.
"As a result, supply in the housing market remains tight, and demand is high, which has forced the national vacancy rate below 4.0% for the first time since GeoDirectory has started tracking residential vacancy rates," he added.
Prices
The figures from GeoDirectory show that the average residential property price jumped by over 8% to €366,291 in the twelve months to May 2023, with the average price increasing in every county.
The highest average property prices were recorded in Dublin, at €538,168.
This was followed by Wicklow at €470,779 and Kildare at €387,046.
Longford was the county with the lowest average residential property price at €174,436.
This was followed by Leitrim at €178,571, Roscommon at €181,402 and Donegal at €192,679.
In total, 49,079 residential property transactions took place between May 2022 and May 2023, of which almost 19% were for newly built properties.
