Brighter Buying

Moreton Bay regions hit sub 1% rental vacancy

by Kate Watt, Marketing Manager 29 February 2024

Tenant demand continues to outweigh rental supply across almost all of Australia.

New stats show that just 2 per cent of Australia’s SA4 regions have a vacancy rate sitting above the ‘healthy’ benchmark of 3 per cent.

What’s an SA4 region? We think did a good job of explaining this, so we’ll share their definition: “SA4s are geographical areas defined by the Australian Bureau of Statistics, with a minimum population of 100,000 persons.”

Here in the greater Brisbane area, two SA4 regions are sporting vacancy rates well below 1 per cent.

Moreton Bay South has a vacancy rate of 0.60 per cent and Moreton Bay North has a vacancy rate of 0.61 per cent.

Moreton Bay South takes in Albany Creek, out to Ferny Hills, Samford and Dayboro, and north east taking in Murrumba Downs and North Lakes.

These are popular middle to outer ring northern burbs which appeal to families and those looking for a good size backyard, or even a paddock.

Across Brisbane the vacancy rate is 0.86 per cent, which has dropped more than 50 per cent since March 2020.

Property commentators are suggesting there is little relief in sight for renters, and as a result we may see the average household size grow as more renters look to share houses or to stay longer in the family home.

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