Newspaper article The Queensland Times (Ipswich, Australia)

Australia's Bargain Rental Suburbs Revealed; Some of the Locations on This List of Bargains Might Surprise You, with New Figures Released to Show Where Rent Is Discounted

Newspaper article The Queensland Times (Ipswich, Australia)

Australia's Bargain Rental Suburbs Revealed; Some of the Locations on This List of Bargains Might Surprise You, with New Figures Released to Show Where Rent Is Discounted

Article excerpt

By Samantha Healy

AUSTRALIA'S bargain rental suburbs have been revealed, and the top Queensland locations may surprise you.

The tourist haven of Airlie Beach and Chelmer, a prestige suburb in Brisbane, have been revealed as among the top 10 Australian areas with the most discounted rents for the 12 months to May.

The findings, which have been revealed by realestate.com.au, found rents had been discounted by 23 per cent in Airlie Beach (pictured above) to $500 a week and 20 per cent in Chelmer ($600 a week), with them earning fourth and seventh spot on the list.

The top spot was taken out by Tomakin on the NSW south coast, where rents fell by a whopping 41 per cent.

Rents in Bellevue Hill, a suburb of Sydney, fell by 29 per cent, earning it the second spot. Looking at Queensland, the data identified the top 10 suburbs with the lowest rental growth over the same period, with Barcaldine (-8%), Blackall (-8%), Newport (-6%), Flinders View (-5%), Charleville (-5%), Hope Island (-4%), Cosgrove (-4%) and Gaythorne (-4%) making the list. The findings come at a time of year when many landlords turn their attention to whether to raise their rents.

Place Estate Agents director of property management Cathie Crampton said investors should frequently review the rent their tenants were paying.

"Rent reviews are a critical part of your investment management," Ms Crampton said. "

They should be reviewed at every lease renewal and change over of tenancy for action."

Rent can be raised at the renewal of leases and the end of tenancies, but just because you can, does it mean you should?

The Real Estate Industry of Queensland CEO Antonia Mercorella said the decision could be difficult, as there were many factors to consider.

"Raising the rent is something that should only ever be done in consultation with an expert, such as your property manager, who will be able to advise you on the prevailing market conditions," Ms Mercorella said. …

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