Local rents dipped slightly in the last quarter of 2011, according to new stats released by the Residential Tenancies Authority. The median rent for a 2 bedroom apartment dropped $10 to $500 per week, reflecting the quieter rental market and caution from landlords.
Rents are up 6% on the same time a year earlier ($470/week) so overall it’s good news for investors. The CBD’s workforce continues to be a big driver of demand for this neighbourhood and crossing the river saves tenants $60 (the median for postcode 4000 is $560/week). And they can live on the doorstep of all our local lifestyle amenities!
January has started with a real rush and enquiry to our South Brisbane office from tenants is the busiest we’ve seen in some years. We’re expecting the RTA data will show 2012 starting as a great year for local investors.
Note: this RTA data is collated by postcode so includes new bonds lodged throughout 4101: South Brisbane, South Bank, West End and Highgate Hill
If you would like a rental appraisal for your property call our Property Management team on 07 3214 6899 or email firstname.lastname@example.org
For median rent information visit http://www.whatrentmyhome.com.au/