Midyear state of affairs: A closer look at the country’s markets
With market conditions changing at varying degrees across the country, seven experts from Property Investment Profession...
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.
TheCoast 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.