Rental stats update
The RTA’s latest rental market stats are out and they continue to show a strong but sometimes patchy market for tenants and landlords. Median rents were up strongly in the June quarter, with 2 bedroom apartments rising 8.6% to $380 per week for new bonds lodged. Postcode 4000 (CBD and Spring Hill) recorded a big jump in supply with a 6% rise in total bonds held, so its rent was flat at $450/week.
Across our inner suburbs there’s an interesting trend – our new supply of rental homes is not only slowing, in many cases it’s going backwards. More than half of the 9 postcodes tracked as “City Inner” by the RTA showed a decrease in total bonds held. Why?
We’ve made a number of sales of investment properties to owner residents and each time that happens we deplete the rental pool. If you’ve spent time in Brisbane’s peak hour traffic lately you’ll understand one of the many appeals of inner city living…