With work-from-home arrangements now a permanent option for many workers, it’s no surprise Australians are flocking north to enjoy sparkling beaches and summer temperatures all year round.
Across South-East Queensland in particular, we’re seeing a massive spike in interstate migration, leading to a surge in rental prices and a significant drop in vacancy rates.
Take Brisbane for example: the average vacancy rate is now . Over in the Gold Coast, vacancies have , taking total vacancies to a . According to the Real Estate Institute of Queensland, this is the lowest the market has dipped in the last 15 years.
What’s causing this tight rental market?
It comes down to a combination of factors, including a (especially for first-time buyers) that is keeping many buyers priced out of the purchasing market, a , and the of the coastal Queensland lifestyle.
Plus, Queenslanders are feeling the impacts of the recent floods which have intensified the existing housing and rental crisis across the state. With tenants and homeowners displaced and thousands of properties destroyed, demand has never been higher for rental properties.
DISCLAIMER - The information provided is for guidance and informational purposes only and does not replace independent business, legal and financial advice which we strongly recommend. Whilst the information is considered true and correct at the date of publication, changes in circumstances after the time of publication may impact the accuracy of the information provided. Property Boutique will not accept responsibility or liability for any reliance on the blog information, including but not limited to, the accuracy, currency or completeness of any information or links.