Tenants rush into new year: rents set to rise after quiet 2011
Brisbane’s tenants are out home-hunting in big numbers with a very busy start to the year. Bees Nees Manager, Rob Honeycombe says real estate agents are “flat-strap”, reporting big crowds at many rental inspections and that’ll lead to solid rent increases on many homes.
It’s good news for Brisbane landlords after new Residential Tenancies Authority’s latest stats showed rents remained flat during the second half of 2011.
“Across Brisbane we had a 4% rise in rents last year but all of that was in the first half of 2011. Landlords have been patient and this busy start to 2012 is really encouraging,” Rob said. “At the moment it’s not uncommon for more than a dozen tenants to arrive at each rental inspection. The supply of rental homes has not grown much at all but we’re still getting new tenants coming to Brisbane,” he said.
“Across Brisbane the total rental pool grew by just 1,131 properties (less than 1%) in the December quarter. In the inner-city suburbs we now have less rental homes to offer tenants than we did 3 months ago, so it’s inevitable rents will rise in that sort of market.”
December’s RTA stats showed no increase in rents since the June quarter. A 2 bedroom Brisbane apartment remained at $380 per week.