Brighter Landlording

Rental market tight in middle ring Brisbane

by Kate Watt, Marketing Manager 22 August 2019

Brisbane’s middle ring rental vacancy rate was 2.4 per cent in the June quarter, signalling a tight rental market, according to the Real Estate Institute of Queensland (REIQ).

Outer Brisbane was even tighter with a 2 per cent vacancy rate, while inner Brisbane jumped into the ‘healthy’ range with a vacancy rate of 3.3 per cent.
Overall, the greater Brisbane area remained at the upper end of the tight range for the fifth consecutive quarter, with a vacancy rate of 2.4 per cent, up from 2.2 per cent the previous quarter.
The hardest spot to find a rental in the south east is Moreton Bay where vacancy rates are sitting at just 1.4 per cent.
Redlands is also tough for tenants with a vacancy rate of 1.6 per cent.
“The changing market is reflected in median rents, with three-bedroom houses, two-bedroom units and three-bedroom townhouses increasing by around 1.9% over the year from March 2018 to 2019,” the REIQ reports.
Across Queensland, renters in Maryborough have the toughest time finding a home with a vacancy rate of 0.3 per cent. While landlords in Burdekin are doing it tough with a vacancy rate of 4.3 per cent.
The REIQ classes rental markets into three categories: weak, healthy or tight, classified according to vacancy rates:

  • 0-2.5% = tight
  • 5-3.5% = healthy
  • above 3.5% = weak

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