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Queensland rental markets tighten

By Staff Reporter
5

Rental markets across south east Queensland have seen vacancies shrink in the lead-up to Easter, according to data from the REIQ.

The institute’s Residential Rental Survey found vacancy rates in most markets dropped in March compared to three months earlier.

In Brisbane, vacancies reached a low of 2.3 per cent.

The REIQ reports inner-city vacancies also fell as a result of rents easing in the last quarter.

Greater Brisbane saw a substantial drop in empty rentals, with the rate falling to 1.9 per cent.

Logan City and Redland City saw a 0.8 per cent decrease, with rates down to 1.2 and 1.6 per cent respectively.

The Sunshine Coast is also seeing competition among tenants increase.

Maroochy and Noosa remain at all-time lows, with vacancies below one per cent.

Caloundra, meanwhile, has a rate at 1.3 per cent.

While more housing was available on the Gold Coast, with a rate of 2.2 per cent, this represents a slight fall from three months prior.

REIQ CEO Anton Kardash said the stronger conditions for investors were the result of changing market dynamics.

“Stronger tenant demand and a decrease in the availability of stock are the common themes across the State,” he said.

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