A wind of change is brewing for Woolloongabba and Dutton Park and you can see it in the latest rental stats, released with the Residential Tenancies Authority’s March quarter report. Local apartment rents are back up to $400 (for a median 2 bedroom) from $380 last quarter, with 3 bedroom houses rising $50 to $470/week. These rents are rising but the glimpse of what’s to come lies with a comparison to the adjoining postcode 4101. In the Gabba and Dutton Park median rents are so much cheaper than Highgate Hill and the other 4101 suburbs – $100 cheaper for a 2 bed apartment – that it’s hard to justify.
Some of this is due to new apartment projects in West End adding higher quality stock to their rental pool. But on any measure the Gabba and its surrounds have plenty to offer and the area’s proximity to the CBD is often overlooked. Rents across the inner-city were generally flat through 2009 and 2010 but patient landlords look like they’ll now be rewarded. In Woolloongabba there might be some “catch up” in the next couple of years.