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Record Rents Nationwide

Posted by Martin Healy on 15/02/2017
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The figures from the latest report make grim reading for policymakers and tenants.

At 13.5%, the annual rate of rental inflation was the highest in the history of the rental report. Connacht seeing rental inflation of just less than 10%.
It has become one of the major social issues for the current government.

Unsurprisingly, the issue is the severe imbalance between supply and demand. As I write this there are only 100 available lets in Galway City and demand for these are very high, so as a result rents are climbing ever further.

The new government restrictions on rents will take effect from the next report so it will be interesting to see if they have had the desired effect.

The average rent for Galway City is €975 pm, a rise of 10% on the previous year.

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