Housing crisis hits a perfect storm

The scale of Galway’s housing crisis has been laid bare this week across a spate of fronts – from the upsurge in mortgage trauma to the dearth of rental accommodation for families and students alike.

First up, the country’s ‘mortgage crusader’ David Hall has revealed that homeowners in Galway are struggling with their finances more than those anywhere else in the country.

At the moment, his Irish Mortgage Holders Organisation is helping 97 clients in Galway. But he said many more are ‘teetering on the brink’ and could face serious trouble if there’s a cut in income or interest rates increase.

The housing crisis is even more acute for social welfare recipients, who are finding there’s ‘no room at the inn’ in Galway’s hostile rental market.

That’s according to Galway Simon Community, which this week claimed that it is “almost impossible” for people relying on state housing help to find suitable accommodation in the city. The charities latest snapshot study of the state of the local rental market, found that, out of the 22 properties available to rent in Galway city, not one was within the housing support limits for a single person, couple, or couple or parent with one or two children.

That lack of availability is also hitting students this week – coupled with the news that, even if they do secure a place to live, they will pay an average of €850 extra for the 2017/18 academic year compared to the previous year.

Figures from property website Daft.ie show that rents in private accommodation in Galway have risen by more than half since their lowest point in early 2012 – and up more than one-fifth on their Celtic Tiger peak.

See full coverage in this week’s Connacht Tribune.