The median asking weekly rent for houses over the September quarter remained static at $400, while the median asking weekly rents for units held flat at $370.
Renters have more reason to celebrate, with Domain also reporting Brisbane house and unit rents are likely to remain favourable for tenants.
Domain explains the overall vacancy rate of 2.6 per cent for houses and units is “providing a generally healthy choice for properties for tenants and is keeping a lid on rental growth”.
However rental increases have been recorded just outside of Brisbane over the past year, with Domain highlighting the following locations:
- Moreton Bay house rents increased 2.7 per cent to $380 per week
- Ipswich rents increased 1.5 per cent to $335 per week
- Redland unit rents increased 2.6 per cent to $400 per week
- Logan unit rents increased 2.5 per cent to $293 per week
It seems tenants are spoilt for choice right now as favourable rental conditions are coinciding with favourable conditions for first home buyers. As we also report this week, many long-term renters are taking the plunge into home ownership.