The official data for the June quarter’s just been released and landlords (and would-be investors) should take encouragement from them. We like to use the 2 bed apartment rents as our benchmark and across inner-Brisbane they rose 4% or $20 to $470/week in the 3 months to June 30th. Across wider Brisbane City they rose just 1% and there’s no doubt some pockets are witnessing stronger demand than others.
The CBD/Spring Hill was up $40 (but this followed a $35 dip in March when the lackluster student demand pulled things back). The West End peninsula has just dropped $20 after a $30 rise in the March quarter. So while the trend is up the market is still finding its way.
Out of interest 3 bed houses (the next largest rental type in inner Brisbane) also rose $20 in the June quarter to reach $500/week. The rental pool did grow over that time, but only by 366 dwellings. Some areas like postcode 4066 actually lost homes from the rental supply during the quarter, usually the result of owner-residents buying from investors.
For median rents in your Brisbane postcode go to www.WhatRentMyHome.com.au