House and unit rents are now at a record high, seeing a $15 per week rise over the September quarter.
House rents for the Gold Coast have remained stable since the record high achieved mid last year, with unit asking prices seeing an increase of $5 over the September quarter. Sunshine Coast house and unit rents peaked over the September quarter at $510 and $420 a week respectively.
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“House and unit rents are now at record highs, with a strong gain of $15 a week over the September quarter. House rents are now at $415 and unit rents $395 a week. Brisbane is the fourth most affordable capital city to rent a unit. Brisbane unit rents could overtake Melbourne in the coming months, as Melbourne unit rents tumble pushing the rent price gap to $5 between the two cities - a four year low,” Domain Senior Research Analyst, Dr Nicola Powell said.
“Amid the pandemic, the estimated number of vacant rentals has returned to expected levels following a dramatic bounce in April. Brisbane’s vacancy rate is on par with pre-pandemic March, with the volume of empty rentals down marginally compared to this time last year. The reduction in available vacant rentals aligns to the easing of restrictions.” Source: Property Observer