Cllr Noel Thomas believes people may not be able to afford to live in Moycullen if the rate of increases of rent continue to follow the current trend.
New figures released show that Moycullen experienced a 17 per cent rent rise over the past year, one of the biggest in Ireland. The average rent in the west Galway village is just over €759.
Cllr Thomas says, “At the moment the rental increases are probably reflecting a recovery for the poor return on rent for landlords since the recession, but we need to be very careful that this rate of increase does not continue into the future or Moycullen could then become too expensive to live in, while rent is increasing this same increase is not reflected in people’s wages.”
The Connemara councillor contends the reason for the spike in rent is due to demand exceeding the supply of houses.
“Moycullen is a very desirable place to live; friendly people, lots of facilities, great businesses and close proximity to Galway city but also away from the hustle and bustle of town. For the last number of years it has been very difficult to get a house to rent in Moycullen.
“If you go to an estate agent here to rent a property you will have to join a queue of other people waiting for the same. Since the recession there has been practically no housing development in Moycullen bar a few one-off houses being built.”
Cllr Thomas says more accommodation needs to be provided to meet demand, though he highlights that it is imperative that the market is kept under control.
“Some new developments need to start to meet the demand but the market has to be right for developers to start and the banks have to start offering people realistic deals on mortgages, as it stands to date it is very difficult for any young couple starting out to obtain a mortgage.
“More development is essential but keeping the market under control is the most important aspect in maintaining Moycullen and other villages like it to be desirable places to live; we definitely do not want to see a return of the Celtic tiger prices.”
