by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
REIQ Journal : December January 2009
38 Industry Research residential rental market: September 2008 snapshot By Yvette Burton, Research Analyst, REIQ Demand is still outstripping supply in Queensland’s rental markets, with figures from the REIQ’s September Rental Survey showing vacancy rates have continued to tighten. However, according to the Residential Tenancies Authority (RTA) growth in median rents for three-bedroom houses and two-bedroom units has slowed in most parts of the state in the six months to September 2008. REIQ Journal December 2008/January 2009 THE REIQRENTAL SURVEY found tenancy periods are relatively consistent across the State; most agencies report the most common new tenancy period is six months. On average, most areas receive less than five applications per rental listing but some areas are reporting that demand for larger homes has increased as tenants try to reduce their living costs by opting for share house arrangements. BRISBANE Vacancy rates have continued to tighten in metropolitan Brisbane and now sit at 1.6 per cent, down from 2.1 per cent three months ago. Brisbane inner rentals have seen the greatest decrease in vacancy rates down to 1.3 per cent. This has also been reflected in the rents for the area with median rents increasing by up to $20 for each of the past two quarters. The low supply of rental properties, coupled with high demand, is fuelling rent increases across most of inner Brisbane. Agents have reported that fewer rental properties are entering the market as tenants opt to renew their leases, which has worsened the supply/demand imbalance. Landlord expectations are also keeping rental prices up. In Brisbane’s outer suburbs however, there are signs that demand is easing with median rents stabilising in most outlying areas. Rents for three-bedroom houses increased by only $5 over the September quarter, compared with $15 over the June quarter. The unit market, on the other hand, recorded an increase of $20 in median rent over the quarter.