Brighter Landlording

Brissie house rent growth skyrockets past 20%

by Kate Watt, Marketing Manager 21 April 2022

Rents for houses in Brisbane have climbed 21.2 per cent in the last year reflecting ongoing high demand for rental accommodation.

Combined house and unit rents have climbed 15.2 per cent in Brisbane.

Other capital cities are also seeing dramatic climbs, according to SQM Research data published in The Guardian.

Vacancy rates across Australia have dropped from 1.2 per cent in February to 1 per cent in March.

This is the lowest national rate since the crazy rental scramble days of 2006.

“As a result, market rents have exploded,” SQM Research managing director Louis Christopher said.

“Some of our capital cities and regions are recording asking rental increases in excess of 15 per cent over the past 12 months … and the recent monthly data suggests we are still not at the worst point of the crisis,” he said, also commenting that the upcoming federal election should have a greater policy focus on housing affordability issues.

See below the March 2022 vacancy rates for Australia’s capital cities:

  • Melbourne 1.9%
  • Sydney 1.6%
  • Brisbane 0.7%
  • Perth 0.5%
  • Canberra 0.5%
  • Darwin 0.5%
  • Adelaide 0.3%
  • Hobart 0.3%
  • National 1.0%

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