March quarter Rental Market Update – Brisbane CBD, Spring Hill
Rents rose during the March quarter, with a 2 bed apartment now back to the $580/week mark we last saw in June 2011. This is a big $80 premium on the next dearest inner-Brisbane postcode
(South Brisbane/West End), reflecting the strong corporate demand and a general lack of supply.
The rental pool in postcode 4000 actually shrank during the early months of 2012 and the graphs show the trend that includes many apartments being sold to owner-residents and hotel operators converting permanent homes into the short-stay market. The new Soleil tower in Adelaide Street is adding some new supply but local construction is limited, giving reason to expect further rent rises.
Note: RTA stats quoted here cover all of postcode 4000 including Spring Hill and Brisbane CBD.
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For median rent information visit www.WhatRentMyHome.com.au