Galway renters are being crippled by ever-increasing rents in a shrinking market, according to figures released this week by the country’s leading property website.

The Daft.ie Rental Price Report shows that renters in the city faced yet another hike over the past year, rising by 5% to an average monthly rate of €1,861.

At the same time, renters in the county faced some of the biggest hikes in the country, with rents soaring by just under 9% on the same period last year – leaving the average rent at €1,472 per month.

The report shows that Galway is the most expensive city to rent in outside of Dublin, and with the highest rents in the country when Dublin and neighbouring Wicklow are excluded.

Despite a national decline in the rate of rental inflation nationwide, average rents overall continued to rise at a rate of 4.9%.

Sinn Féin Local Election candidate for Galway City East, Aisling Burke, said these increases were happening despite a cap of 2% on incrases as a result of the city’s rent pressure zone status, and claimed the increase showed Government was failing to get to grips with the housing crisis.

“This is totally unaffordable for families – €1,861 is nearly half of the monthly earnings of the average worker and 85% of the earnings of a worker on minimum wage.

“Renters in Galway are paying more every year, meaning they cannot save towards buying a house. In many cases people cannot even afford to move out from their parents’ house, trapping their families in overcrowded and unsuitable living conditions,” said Ms Burke.

Rents across the Connacht-Ulster region continued to rise in the first quarter of 2024, up 9% on last year, while the stock of housing available for rent continued to plummet.

It is reported that just 220 units were available for rent across Connacht-Ulster on May 1, a 14% drop on the same date last year.