Rents rise by 4.6% in Galway

Galway Bay FM Newsroom – In Galway City, rents have risen by 4.6% in the last year with the average rent now standing at €1370.

In the county, rents were on average 2.4% higher in the final three months of 2020 than a year previously.

According to new data from Daft.ie, the average listed rent is now €956, up 87% from its lowest point.

Elsewhere, a lack of supply in rental properties outside the capital is continuing to drive up rents, despite rising unemployment.

Rents rose by over 5 percent on average last year with supply on the market this month down 17 percent.

Prices in Dublin fell however by more than 3 percent, but every other main city saw inflation.