Queensland rental markets tighten
Rental markets across south east Queensland have seen vacancies shrink in the lead-up to Easter, according to data from the REIQ.
The institute’s Residential Rental Survey found vacancy rates in most markets dropped in March compared to three months earlier.
In Brisbane, vacancies reached a low of 2.3 per cent.
The REIQ reports inner-city vacancies also fell as a result of rents easing in the last quarter.
Greater Brisbane saw a substantial drop in empty rentals, with the rate falling to 1.9 per cent.
Logan City and Redland City saw a 0.8 per cent decrease, with rates down to 1.2 and 1.6 per cent respectively.
The Sunshine Coast is also seeing competition among tenants increase.
Maroochy and Noosa remain at all-time lows, with vacancies below one per cent.
Caloundra, meanwhile, has a rate at 1.3 per cent.
While more housing was available on the Gold Coast, with a rate of 2.2 per cent, this represents a slight fall from three months prior.
REIQ CEO Anton Kardash said the stronger conditions for investors were the result of changing market dynamics.
“Stronger tenant demand and a decrease in the availability of stock are the common themes across the State,” he said.