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.”

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

CBA unveils new repayment simulator CBA unveils new repayment simulator

The simulator will show customers the differences between different types of repayments Read more

How to tell when a housing market is cooling How to tell when a housing market is cooling You need to check clearance rates, listings, and the price gap, among other factors ... Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

More mortgage news and articles

Sponsored Links

Tuesday, Sep 26, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • 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