In today’s blog, we review Brisbane’s rental price trends for the first half of 2019. If you’re a Brisbane renter or a property investor, you'll be glad to know that the Brisbane property market remains steady, with median house rental prices at $400 per week. Currently, this makes Brisbane the third cheapest capital city in Australia to rent a house. Vacancy rates have also fallen to 2.2 per cent over the past 12 months, which suggests the market may be strengthening.
On the other hand, prices for the Greater Brisbane region have fallen 2.2 per cent over the quarter, potentially damaging the capital growth of many investors.
The median unit rental price remained flat at $380 per week showing a 2.7 per cent year-on-year. Despite the oversupply of units, economists believe that Brisbane rents had held up better than expected.
Rental activity has also shown strong rental activity with more houses and townhouses becoming in demand with families targeting school catchments. Gold Coast Hinterland displayed the largest increase YoY change with 8.7% while Brisbane East, South, West, Inner City, Ipswich, and Moreton Bay South remained stagnant at 0.0%
The inner-city region displayed the stronger increase in unit rentals and grew 6.3% over the quarter. Rental demand from January to March was strong and May and June steady while July picked up substantially. Looking at cities, tenants on a budget can find themselves a bargain in suburbs of Ipswich and Logan, offering lower rent prices.
Additionally, Brisbane is set to undergo new infrastructure projects (Cross River Rail, Queens Wharf, Howard Smith Wharf developments) that will boost its tourism and will potentially attract more investors. And with a strong investment market, Brisbane is more likely to gain a stronger rental market.
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https://www.domain.com.au/news/brisbane-rent-prices-steady-but-citys-relative-affordability-is-improving-856922/ https://propertymash.com/news/rental-market-update/ https://propertymash.com/news/brisbane-infrastructure-tourism-boom/