Local rents were flat in the second half of 2011, according to new stats released by the Residential Tenancies Authority. The median rent for a 2 bedroom apartment remained at $560 per week during both the September and December quarters, reflecting the quieter rental market and caution from landlords.
Rents are down slightly ($15) on the same time a year earlier but as the graphs show the trend is slowly upwards. Postcode 4000 remains Brisbane most expensive by a big margin and strong corporate demand for serviced apartments means supply to the long-term tenant market remains very limited. The local rental pool grew by just 2 homes in the December quarter.
January has started with a real rush and enquiry to our 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 4000 including Brisbane CBD.
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/