Brisbane landlords, Brisbane's rental market

Tenants stick to budgets, even if it means more house-hunting

A surprisingly high 65% of renters take more than 3 months to find a home, according to a survey by property portal RealEstateView.com.au

General Manager Petra Sprekos said their site’s users were confirming the view that demand far exceeds supply in the rental market and that finding a rental home can prove extremely difficult.

“Most renters report that they have problems finding a home. A wait of three months to find a new home means that if you only have a lease that is 12 months in duration you would need to spend a quarter of your time looking for a new home.

RealEstateView is now Australia’s 3rd largest property portal but it’s still a largely Victorian site, so these stats don’t necessarily reflect Brisbane’s current rental market. But there is info in here for Brisbane landlords, especially on the price-sensitivity of tenants.

“The survey also found that renters knew they had to be flexible if they were to find a home with more than half willing to look in other suburbs or for homes without the features they wanted. One in ten will even look at share accommodation to find a place to rent and just under half will increase their budget.”

“It shows that renters will trade quality and location before they increase their budget.” Petra Sprekos concluded.