Brighter Landlording

Data lovers rejoice: new vacancy rates out now

by Kate Watt, Marketing Manager 18 August 2016

The inner city is soft, the middle ring is tight and the regions are stabilizing, according to the latest vacancy rate data from the Real Estate Institute of Queensland (REIQ).

But that’s not the only headline. The analytic types amongst you will be excited to know that, for the first time, the REIQ is able to provide a breakdown of vacancy rates for houses and units in most markets.

This is what the breakdown looks like for the June quarter.

Brisbane apartment vacancy rates:

  • weak at 3.7 per cent in the 0-5km ring
  • healthy at 2.7 per cent in the 5-20km ring.

Brisbane house vacancy rates:

  • healthy at 3.4 per cent in the 0-5km ring
  • tight at 1.8 per cent in the 5-20km ring.

REIQ CEO Antonia Mercorella said the new data helped provide insights into Brisbane’s perceived oversupply of inner city apartments.

While the numbers reveal vacancy rates are outside the healthy range of 2.5 per cent to 3.5 per cent, Ms Mercorella is decidedly upbeat about the CBD unit market.

“With major projects, such as Queens Wharf and Howard Smith Wharves, creating thousands of jobs over the next few years in Brisbane’s inner city we are confident demand for housing will continue to grow,” she said.

“We are seeing steady levels of supply and equally steady levels of demand for inner-city apartments and we expect vacancy rates will hover around these levels for some time to come,” she said.

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