SQM Research recorded that the national rental market continues to fall back to 1.1% in September. The Real Estate Institute of Queensland’s (REIQ) latest quarterly Residential Vacancy Rate Report shows most renters have more choice than they had a year ago, despite a slightly tightening market over the September 2023 Quarter.
Logan recorded rental vacancy rate at 1.1%, up from 1% in the June 2023 Quarter, which is still tight.
With the recent rise in property prices and demand for properties, Logan has become one of the most desirable Queensland Local government areas (LGAs) to live in. Logan’s proximity to Brisbane is the primary driver for house price growth in this LGA.
Rochedale South property market
In September, Rochedale South had 42 properties available for rent and 52 properties for sale.
Median property prices over the last year range from $795,000 for houses to $408,750 for units.
Houses in Rochedale South rent out for $600 per week with an annual rental yield of 4.3% and units rent for $450 per week with a rental yield of 5.7%.
Based on five years of sales, Rochedale South has seen a compound growth rate of 0.6% for houses and 20.2% for units. Supported by strong buyer demand, property prices continue to recover strongly in this area despite interest rate hikes.
Client Feedback
An investor entrusted us with his two properties in Logan in 2017. We took over the management of 15 Lancefield Place, Rochedale South due to long vacancy. We appreciated his trust and Facebook review: “But having Arise Property management, I have had find peace since then. They fixed, clean and rented two properties in short time. Can not recommend this enough.”
We’re very grateful to 2 owners for their recent reviews and feedback.
Sources:
SQM Research. (2023). September Vacancy Rates fall back to 1.1%. Available from:
https://sqmresearch.com.au/uploads/17_10_23_National_Vacancy_Rate_September_2023_Final.pdf
REIQ. (2023).Queensland’s rental vacancy rates take a dip, not a nose dive. Available from: https://www.realestate.com.au/qld/rochedale-south-4123/
CoreLogic. (2023). Hedonic Home Value Index. Available from:
CoreLogic. (2023). Monthly Housing Chart Pack. Available from: content.corelogic.com.au/l/994732/2023-10-11/zjh29/994732/16969989679hhDUzmr/202310_Monthly_Chart_Pack.pdfHome Value Index
REA Group. (2023). Market Insights-Rochedale South, Available from: https://www.realestate.com.au/qld/rochedale-south-4123/
HtAG® Analytics. (2023) Logan City, QLD, Available from: https://www.htag.com.au/qld/qld89-logan-city/
