Davy Stockbrokers have today released a report examining the Irish census data for 2016 and have come up with some interesting discoveries.
The population is now estimated to be 4.76m, up from 4.59m in 2011. Annual estimates had pointed to the population rising to about 4.68m.
Most notably, emigration between 2011 and 2016 was just 28,588 compared to a previously thought 100,000 in the four years to 2015. This suggests that net migration turned positive in recent years as the economy picked up.
Population gains in recent years have been increasingly focused on the main urban centres. Overall, Dublin’s population increased by 5.7% to 1.35m and the Greater Dublin Area (GDA) rose by 5.6% to 1.9m.
Outside the GDA, the population increased by just 2.5% to 2.85m and declined in three counties. Indeed, the data reveal that net migration was concentrated within the two main urban centres – Dublin and Cork.
Net migration into Dublin was 7,981 over the five-year period and 4,380 into Cork City, implying net migration at -40,919 in the rest of Ireland. Surprisingly, Cork – and not Dublin – had the highest rate of immigration as a percentage of population.
According to Davy Stockbrokers, "The provisional results show that the population grew at a faster pace than expected due to a much lower rate of emigration over the past five years. The data also reveal that while vacant houses abound, the lack of supply in areas of highest demand means that household formation was probably held back in recent years as average household size actually increased for the first time in decades."
They added, "The housing market remains a key constraint on the economy."
Source: www.businessworld.ie
