New data derived from Coronis has showcased the new opportunities actively becoming available for property investors, particularly when it comes to South East Queensland.
According to Coronis, theState is embracing its lowest vacancy rates in over a decade, providing ample opportunity for investors looking to build on their property portfolios.
Coronis property management director Jodi Ford said that despite recent RBA cuts motivating tenants to purchase their own homes, it won't limit the amazing opportunities for property investors.
“With the increasing tenant migration from NSW and Victoria coming to enjoy our sunny lifestyle, there’s a strong performance in the market with the lowest vacancy rate of 1 to 1.5 per cent that we’ve experienced in the last 12 months across our offices,” she said.
“While there are some interesting changes in vacancy rates due to recent RBA cuts, as our data demonstrates, it doesn’t affect investments, creating a promising opportunity to get a great return on investment properties with such low vacancy rates.
“Our state is becoming more attractive than ever, with Brisbane’s major developments like the new Moreton Bay University, Queen’s Wharf and Brisbane Airport’s new lane contributing to a 10 per cent increase in enquiries for rental properties from the beginning of the year.”
Ms Ford noted that the opportunity is set to ramp up as we move into 2020.
“Looking further, our properties in Brisbane South get rented before the current tenants move out, while for Brisbane North, we’ve been able to find tenants in less than 10 days in Bracken Ridge, Mooloolaba, and North Lakes despite the increasing rent,” she said.
“In North Lakes, in particular, we’re seeing a strong competition over rental properties that boosted the rental price by $15 per week, with properties renting in just a few days compared to this quarter last year.
“As we’re seeing such phenomenal results across SEQ, it’s an excellent opportunity for investors to get their hands on a property here in Queensland.”