Our rummage through the latest rental stats confirms what we’ve seen over the past month or two: our inner city market has flattened a tad. Supply might have caught up to demand, at least momentarily, according to the Residential Tenancies Authority’s March quarter stats. The number of bonds RTA holds has grown 9% in the past year (with a total of 2,386 extra dwellings), compared with growth of just 2% in the previous 12 months. Bigger new buildings like “Aurora”, “Festival Towers” and Milton’s “Vue” were completed, helping to take the edge off rent rises. Across our most central suburbs the median rent for a 3 bedroom house crept up just $10 while a 2 bedroom apartment actually dropped $10 for the quarter.
If you’d like to read more, contact us on 07 3214-6888 or visit www.beesnees.com.au for our quick and easy to read suburb profiles, “Rental Market in a Nutshell”.