Galway CIty's most expensive rental locations
Woodquay continues to be most expensive location in which to rent in Galway City, according to new figures from the Central Statistics Office.
Tenants in private accommodation there were paying an average of around €1,372 per month in the third quarter of this year – that’s up 15% on a year earlier, when the figure stood at €1,193.
That means tenants in Woodquay are now paying an average of €2,150 extra per year to their landlords.
The latest statistics compiled by the CSO for the Residential Tenancies Board (RTB) and Economic and Social Research Institute (ESRI) show that the average rent in the city now stands at €1,106 per month, up 6% from €1,044 a year earlier.
The figures are averaged out across all property types (apartments, terraced, semis, detached) and sizes (from one room up to four plus bedrooms).
An analysis of the CSO figures by the Galway City Tribune shows the next most expensive location in which to rent in the city is Newcastle at an average of €1,246 per month, up 6% on €1,176 a year earlier.
The city’s third most expensive rental location is Roscam at an average of €1,165, up 11% on €1,046 twelve months ago.
The cheapest locations to rent were Ballybane at €846 (up 1% from €834); Oranmore at €966 (up 9%) on €885 and Doughiska at €971 (up 8% from €896). The only overall reduction was in Ballybrit, down on average 9% from €1,163 to €1,026.
In the county, the average rent stood at €987, up around 5% from €941 twelve months earlier.
The most expensive location in the county in which to rent was Headford at an average of €1,070, down from €1,147 a year ago (7% change).
The cheapest location was Portumna at an average of €535 per month – up 16% from €462 a year previously.
RTB Director Rosalind Carroll said: “Affordability still remains an issue for the rental market with continued economic, employment and population growth contributing to rising demand across the country. We can also see rents across the country have continued to increase year-on-year.”
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.