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Retail Excellence has written to Damien English, the Minister of State for Employment Affairs and Retail, requesting the Government to step in and offer support for retailers who are struggling to pay commercial rents.
The extension of the rent pressure zones (RPZ), while welcome for tenants in the area, is a sign of the Government’s failing housing policy in Galway, according to a Galway-East TD.
Average monthly rents in Galway city have escalated to €1,260 a month, according to the latest Daft.ie report. Despite this being below the national average of €1,366, it is still an 11.4 per cent increase over the last year.
Independent Councillor, Paul Hogan, slammed Westmeath County Council’s differential rent review during the local authority’s monthly meeting in Athlone.
Galway students would be “better off taking out a mortgage instead of renting in the current climate”, with student rents in some areas of the city reaching up to €1,250 a month.
Galway students would be "better off taking out a mortgage instead of renting in the current climate", with student rents in some areas of the city reaching up to €1,250 a month.
Relying on the private rental sector is "not appropriate" for delivering social housing, or tackling Galway's accommodation crisis, especially as there are no properties available to rent for people on Housing Assistance Payment or on rent supplement.
Rents in Westmeath were on average 14.7 per cent higher in the first three months of 2017 than a year previously, according to the latest quarterly Rental Price Report by Daft.ie. The average advertised rent is now €770, up 46 per cent from its lowest point.
Rents in Westmeath were 12.7 per cent higher in Westmeath in the second quarter of 2016, according to the latest quarterly Rental Report by Daft.ie.
Over the last 12 months, rent in Monivea has skyrocketed by almost 60 per cent. In early 2015, average monthly rent in the area was €568, but the last year has seen a 57 per cent increase, with prices now peaking at more than €894 per month.