Threshold highlights spike in cost of a room in Galway City

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Galway Daily news The cost of rent in Galway County increased 5% in 2020

The lack of one-bedroom accommodation, and the exodus of workers from Dublin due to COVID-19, have contributed to a major spike in rental prices in Galway housing charity Threshold has said.

The latest rental report from Daft.ie issued this week shows that rent in Galway City is up 4.6% in the past year, while county rental prices have increased 2.4%.

The average cost to rent in Galway City is now €1,370, while the average price in the county is €956.

By far the largest increase has been for people renting a single bedroom rather than a property.

In Galway City Centre the average cost of renting a room has gone up 20.9% to €469 in the past year according to Daft, while prices in the city suburbs are up 18.9%.

Western Regional Services Manager at Threshold, Karina Timothy said that this highlights the discrepancy in protections afforded for people renting a room as opposed to an apartment or house.

“Considering the decline in room prices in almost every other area and that colleges and universities are closed, this is an unexpected increase that shows again how those in rent-a-room scenarios are not afforded the same protections as other renters.

“The increase also reflects the rising demand for single rooms due to the scarce supply of one-bed accommodation for single people.”

Chairperson of Threshold, Aideen Hayden added “The report shows indications of a change in trends, but only that – not the seismic wave that’s needed for the private rented sector to become a true tenure of choice, as major issues around supply and affordability remain.”