Newspaper article Gympie Times, The Qld.

Qld Rental Markets Tight

Newspaper article Gympie Times, The Qld.

Qld Rental Markets Tight

Article excerpt

THE Queensland rental market has generally tightened over the year to June and with this quarter reporting 24 tight markets, up from 19 tight markets in the March quarter.

Brisbane LGA's rental market moved from the healthy range, with vacancies of 3.1 per cent in March, to the tight range, with 2.3 per cent in June.

However, this market is being described by local agents as patchy, with tenants favouring certain pockets over others.

The rental markets in Greater Brisbane, including the outer Brisbane regions of Ipswich, Logan, Moreton Bay and Redland, are tight with vacancies in the range of 1.2-2.5 per cent.

The historically tight markets of the Sunshine and Gold coasts have eased somewhat this quarter, however, they have generally remained within the tight range.

The Fraser Coast rental market tightened more than 1 percentage point, from 1.9 per cent to 0.8 per cent.

Regional Queensland continued strengthening this quarter, with Toowoomba, Mackay, Bundaberg, and Rockhampton operating within the tight or healthy range, representing significant improvement on two years ago when many of these markets were weak.

Only the regional markets of Townsville and Gladstone remain weak but those economies are showing strong indicators that a solid recovery is on the horizon.

The key findings for June were as follows:

Greater Brisbane's vacancy rates tightened to 2.2 per cent, sitting within the tight range for the first time in nearly three years.

Redcliffe in Moreton Bay was the tightest market in Greater Brisbane, reporting vacancies of 1.2 per cent.

Brisbane LGA vacancies tightened from 3.1 per cent in March to 2.3 per cent in June.

Inner Brisbane remained operating within the healthy range. However, Brisbane middle-ring vacancies reduced to 2.1 per cent, moving into the tight range.

The rental market in the tourism centres continued operating generally in the tight range, with vacancies in the range of 0. …

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