Newspaper article The Observer (Gladstone, Australia)

Rentals on the March; Vacancy Rates Improve by More Than 10%

Newspaper article The Observer (Gladstone, Australia)

Rentals on the March; Vacancy Rates Improve by More Than 10%

Article excerpt

Byline: Campbell Gellie campbell.gellie@gladstoneobserver.com.au

FOR the first time in a year, Gladstone vacancy rates are declining, meaning people are moving in to our available homes.

The June quarter figures for vacancy rates released by Real Estate Institute of Queensland show the rate has dropped from 11.3% in the March quarter to 10.2%.

The rate is still high compared to five years ago when it was 0.6% but rates that low come with dangers as well, mostly a high cost of living.

However, a high vacancy rate results in poor confidence in the market, something REIQ Gladstone zone chair Vicki Brown said was changing.

"Inquiries have lifted for properties in Gladstone, Boyne-Tannum and Calliope and I think with the different projects around its giving Gladstone a more positive feel," she said.

"Certainly I'd like it to be a lot better but things are improving, which lifts confidence."

Mrs Brown said real estate agents did not know how much the market might slide but the latest reports showed it had bottomed out. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.