QUEENSLAND is fast becoming a landlord’s market, with property investors in the box seat as vacancy rates continue to tighten.
The regional markets are now home to some of the hardest places in the state to rent a property, with strong demand and limited supply pushing up rents, according to new figures from the Real Estate Institute of Queensland.
The rental market in Cairns tightened to 1.3 per cent in the March quarter, with rents increasing by $10 to $15 a week.
The Greater Brisbane market remained steady at 2.2 per cent during the quarter, while the inner Brisbane market tightened significantly — from 4 per cent to 2.1 per cent.
Ms Mercorella, REIQ chief executive said apartment oversupply in inner Brisbane peaked in the March quarter of 2017 when the vacancy rate reached 4.4 per cent.
The outer Brisbane regions of Ipswich, Logan, Moreton Bay, and Redland are tight at a combined 2 per cent.
Source: https://www.realestate.com.au/news/no-vacancy-qld-rental-markets-tighten-as-tenant-demand-rises/
