Rents firm in CBD & Spring Hill despite student slow down
One thing that graphs do really well is illustrate trends, and the simplest analysis of the charts below show that supply of rental housing in the city is not coming online in big enough numbers. In fact there’s now less homes available for rent in postcode 4000 than there were 2 years ago. We’d suggest it’s only the easing of demand from international students that’s kept a relative lid on rents so far. They’ve been a huge part of our CBD demand for some years so the drop in student numbers this past 6 months could have seen a dip in rents. But it’s now over 2 years since we saw any residential building completed in the area and rents have held firm.
Watch this space over the next quarter – CBD, fully furnished apartments especially have seen some really strong rents achieved over the past couple of weeks.
Go to www.WhatRentMyHome.com.au to see current median rents for other Brisbane suburbs. Note: RTA stats quoted here cover all of postcode 4000 including Spring Hill.