This article first appeared on Galway Bay FM
Galway city rents have risen by 8.5 percent, while county rents have increased by 7.6 percent on average in the past year.
The average city monthly rent is now €2,295, while it’s €1,700 in the county, according to the latest figures from Daft.ie.
Nationally, rents are up 1.6 per cent in the second quarter of the year, marking the 18th increase in a row, with the average monthly rent now 2 thousand euro.
Economist and author of the report, Ronan Lyons, says rents are 7 percent higher compared to a year ago
Some other pieces of data from the report:
- With the volume of new supply slowing considerably in Dublin, inflation in the capital – at 6.5% – is now close to the average seen in the rest of the country (7.3%).
- As has consistently been the case in recent quarters, Limerick city saw the highest inflation, at 14.9%.
- In Galway city, rents were up 8.5% year on year.
- While in Cork city, they increased by 11.8% in the same period.
- Inflation was even greater in Waterford city (up 12.5%).
- Outside the five major cities, rents rose by an average of 6.2% over the last year.
- There were almost 2,300 homes available to rent nationwide on August 1st. This is down 14% year-on-year and close to half the 2015-2019 average for availability of homes to rent.
