Vacancy Rates Still Tight
Those not watching monthly interest rate movements are more than likely worried about their rising rents instead of their mortgage, and new figures suggest that despite vacancy rates in Brisbane increasing slightly, the rental market is still very tight. The latest rental data shows rents have risen to a median of $400 a week for a three-bedroom home in Brisbane, up from $390 last year. The highest median rents were in the inner city and inner-northwest.
Real Estate Institute of Queensland CEO Anton Kardash said renters weren’t winners under the current conditions. “It’s a very healthy market if you’re an investor,” he said. The current vacancy rate in the Brisbane statistical division is 2.4 per cent. A vacancy rate of three per cent is usually considered healthy, with anything under considered tight. Redland City had the tightest vacancy rate in Brisbane, of just 1.9 per cent.