Galway City Rental Prices Surge, Hitting €1,982 on Average
A recent report from Daft.ie reveals a considerable spike in rental prices in Galway city, with the average rent now standing at €1,982. The data, part of Daft.ie’s latest Rental Report for the third quarter of 2023, indicates a national trend of rising rent prices, particularly evident in Connacht, where market rents have surged by 15.7% year-on-year. This increase is attributed to a notably low availability of rental properties, with fewer than 160 homes available for rent as of November 1.
In a commendable act of bravery, a Galway resident, Joseph Cahill, has been honoured with a Certificate of Bravery at the National Bravery Awards. Mr. Cahill received recognition for rescuing three individuals from a burning house in Ballybane, Galway. The incident, which occurred on January 12, 2023, saw Cahill responding swiftly to the emergency, using a ladder to assist trapped tenants down to safety before the arrival of the Fire Brigade.
The ceremony, held at Farmleigh House in the Phoenix Park, Dublin, witnessed the presentation of 26 National Bravery Awards, acknowledging individuals who risked their lives to aid others in peril. The event served as a poignant reminder of the importance of recognising acts of bravery and the value of lives saved.
Amidst these commendable actions and recognitions, the report on Galway’s rental market highlights a significant year-on-year increase of 15.7% in the third quarter. In the rest of Galway, market rents saw a 16.2% rise, with an average listed rent of €1,452. Limerick recorded the highest nationwide increase at 16.2%, with an average rent of €1,864. Waterford City followed with a 14.1% increase, while Cork City and Dublin City experienced rises of 10.2% and 4.3%, respectively. Nationally, market rents increased by an average of 1.8% in the third quarter of 2023 compared to the second quarter, marking an 8% rise from a year ago. The average market rent nationwide now stands just under €1,825 per month, highlighting a considerable shift from the low of €765 per month observed in late 2011.
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