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Homes for rent at lowest level since the boom

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Ronan Lyons, Economist with Daft.ie

As the supply of available housing continues to dry up, rents across Galway have increased by almost 11% over the past year, according to new research.

Availability is now as its ‘tightest’ since the height of the economic boom in 2007.

A survey from property website Daft.ie found that rents in the county are up by 10.7%, while in the city, the increase was 7.4% over the past twelve months.

Those in private residential accommodation in the city are now paying an average of €889 per month, while their county counterparts are paying an average of €606.

Economist Ronan Lyons from Daft.ie said the continuing increases are due to an “extreme shortage of supply”, which is also causing homelessness and a lack of student accommodation.

At the moment in the city, a one-bed apartment costs an average of €617 per month; a two-bed rents for around €831; a three-bed semi for €943; a four bed for €1,024 and a five-bed for €1,199.

Rents in the city have now jumped by 16% from their lowest point in 2010 and 2011.

Significantly, the number of units available to rent between Galway, Limerick, Cork and Waterford cities currently stands at 600 – that’s the tightest the market has been since 2007.

The national average rent between January and March of this year was just over €960. That’s 8.2% higher than at the same point last year.

Mr Lyons explains: “Over the last ten years, the number of households renting has grown rapidly but a renter today finds themselves with less choice on the market than at any other time since 2006.

“This extreme shortage of supply is at the heart of not only rising rents and house prices but also issues around working homeless, student accommodation shortages and a lack of options for those in mortgage arrears.

“Solving the lack of housing will require initiatives to moderate the high cost of building homes in this country and completely reforming the way social housing is funded,” said Mr Lyons.

Connacht Tribune

New course helps make sense of Artificial Intelligence and its uses

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Managers in Galway companies who would like to learn how they could put artificial intelligence (AI) to work for their organisations are being encouraged to sign up for a new course.

It comes as research found that 50% of organisations around the world have adopted AI in at least one function, while 79% of organisations are also exploring or piloting AI projects.

Of those companies who have implemented AI, 63% report revenue increases in the relevant business units.

The new Artificial Intelligence for Managers postgraduate certificate is being offered by NUI Galway to those who wish to get a better understanding of AI and its implications for business and enterprises.

Participants do not need to have any coding skills; this non-technical programme will focus instead on the strategic use of AI and how businesses and management can approach the practical implementation of AI technologies within their company. Candidates will learn about the practicalities necessary for successful AI adoption including data and skills requirements, ethics and legal issues. As such the programme would suit those in management positions in sectors like telecommunications, manufacturing, pharmaceutical, biomedical, finance, marketing, automotive and more.

For more, read this week’s Connacht Tribune.

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Connacht Tribune

GMIT hotel industry’s big cheese

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Cáit Noone

The Galway International Hotel School in GMIT has been listed in the Top 10 Hospitality Management Institutes worldwide by global publication Education.com, for the second year in a row.

During the pandemic, the school continued to deliver courses safely on campus and online including a brand-new series of online masterclasses by industry representatives such as Conor Spacey, Culinary Director of Food Space, alumna Catherine Toolan, Managing Director of Guinness Storehouse, Diarmuid Kelly of Kelly’s Oysters, Siobhan Ni Ghairbith, St Tola Cheese, Bernie Doherty, Galway County Council Community Archaeologist, Padraig McGillicuddy, MD and owner of Ballygarry House, Tom Doherty, Access Hospitality and many more.

Cáit Noone, Head of the school, said: “The tourism industry is a global employer and a qualification from the Galway International Hotel School provides graduates with multiple opportunities to work across the vast industry.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

 

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Connacht Tribune

Glenamaddy site goes green

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Green initiative…Peter Flanagan, Site Manager and John McDermott, Procurement Manager at Kingspan.

Kingspan Water & Energy in Glenamaddy is the first manufacturing plant within Kingspan’s global network of 166 manufacturing sites to have its manufacturing process completely powered by renewable energy, following the installation of BioLPG.

Following the July installation of BioLPG, the Glenamaddy site is now 100% powered by renewable energy, closely followed by Kingspan’s manufacturing plant in Aston Clinton, England, which has also reached this milestone.

The move to renewable energy has been a gradual transition over the past five years, following the introduction of renewable electricity to Kingspan Glenamaddy in 2016.

This accomplishment is aligned to the Group’s ground-breaking Planet Passionate sustainability objectives and helps Kingspan to move closer to its ambitious goal of achieving net zero carbon manufacturing* across the business by 2030.

Kingspan Glenamaddy manufactures storage solutions for numerous sectors including agri, water, domestic as well as specialist custom tanks as part of Kingspan’s Water & Energy Division.

“Over the past five years, the introduction of renewable electricity to our Glenamaddy site has delivered a significant reduction in our carbon emissions,” said Peter Flanagan, Site Manager at Kingspan Water & Energy in Glenamaddy.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

 

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