Home News Rental vacancy rates remain high in Brisbane

Rental vacancy rates remain high in Brisbane

Font size :
Thanks to large-scale building and the sheer number of first home buyers, rental vacancy rates for both houses and units in Brisbane have remained to be among the highest in the country, second only to Perth.

According to the latest Domain Group data, Brisbane recorded a house rental vacancy rate of 2.6 per cent in July. Only Perth recorded higher vacancies at 4.1 per cent.  As for apartment vacancy rates, Brisbane recorded 3.1 per cent—the third highest after Perth and Darwin.

“Typically, vacancy rates tighten in July, which was seen with other capital cities—but Brisbane is the exception,” said Domain Group chief economist Andrew Wilson. “This means although the rates appear stable, it’s really an indication they will continue to ease into the future.”

Suburbs experiencing high building activity—like Redbank Plain, North Lakes, Griffin, Brisbane City, New Farm, and Hamilton—also topped the lists for the most house and unit vacancies.

The high first home buyer activity also meant fewer tenants in the market. Wilson said, “There are certainly more incentives for first home buyers in Queensland, who are buying the new properties and leaving gaps in the rental market.”

According to Real Estate Institute of Queensland CEO Antonia Mercorella, housing demand will continue to remain strong in Brisbane.

“With major projects, such as Queen’s Wharf and Howard Smith Wharves creating thousands of jobs over the next few years in Brisbane’s inner city, we are confident demand for housing will continue to grow,” she said. “We are seeing steady levels of supply and equally steady levels of demand for inner-city apartments and we expect vacancy rates will hover around these levels for some time to come.”

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Mortgage News and Articles

House prices return to more affordable levels in mining towns House prices return to more affordable levels in mining towns

While the end of the mining boom caused property prices to collapse, on the plus side, homes are more affordable again Read more

Borrowers should anticipate a possible rate hike Borrowers should anticipate a possible rate hike Some experts advise borrowers to look for a fixed loan that allows extra repayments so that they can whittle down the balance sooner ... Read more

Why choosing the right mortgage is hard for first-home buyers Why choosing the right mortgage is hard for first-home buyers Many feel overwhelmed by the sheer range of products and interest rates on offer, a new survey reveals ... Read more

Mortgage applications drop in second quarter Mortgage applications drop in second quarter This marks the “beginning” of a downward trend, says Equifax executive ... Read more

More mortgage news and articles

Sponsored Links

Wednesday, Jul 26, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Whether you're a first homebuyer, looking to refinance, or investing, it's important to have the right loan for your needs. Just fill in a few details below and one of our trusted mortgage advisers will contact you.

A quick & easy way to find the right home loan
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords