Galway rents rise by €700 in past year

People living in private rented accommodation in County Galway are paying an average of almost €700 extra per year to their landlords compared to a year ago, according to new Government figures.

And the latest statistics from the Residential Tenancies Board (RTB) and Economic and Social Research Institute (ESRI) show that Headford is the most expensive location in which to rent.

The report shows that monthly rents in the county at the end of June were averaging €866 – up €57 per month from a year previously.

The RTB Rent Index is the most accurate rent report of its kind on the private accommodation sector in Ireland because it reflects the actual rents being paid, according to the RTB’s records, as distinct from the asking or advertised rent, which is the basis of other rent reports such as Daft.ie.

An analysis of the figures by the Connacht Tribune show that the most expensive areas in which to rent in the county are Headford at €989 per month (up 2% from €966 a year earlier) and Barna at €975 (up 4% from €935).

However, the biggest jump in rents in county towns and villages over the past year was in Monivea, which is up almost 54% from €575 to €886 per month.

The other most expensive areas in which to rent were Oranmore (€826 per month) and Moycullen at €766.

The cheapest areas in the county in which to rent were Portumna at €456 per month on average; Ballinasloe at €520 and Clifden at €543.

In Galway City, the average rent was €961 per month, up around 8% from €890 a year earlier. However, the rents range from just under €1,100 per month (up from €962) in Newcastle at the most expensive to €760 (up from €717) in Ballybane on the eastern side of the city.

See full story in this week’s Connacht Tribune.