March quarter Rental Market Update – South Brisbane, West End, Highgate Hill
While tenant demand for this area continues to be strong, local rents have consolidated over the past 12 months, settling at $500/week in the March quarter. Landlords have generally become more cautious and many have kept rent rises to a minimum, reluctant to have an empty property. We saw the same conservatism during the GFC in 2008 and this means tenants currently have less pressure on them.
This remains the most expensive postcode outside the CBD and their workforce continues to be a big driver of demand for this neighbourhood. Crossing the river now saves tenants $80/week and they can live on the doorstep of all our local lifestyle amenities! There are some new apartments nearing completion in South Brisbane but overall supply of rental housing in 4101 remains constrained.
Note: RTA stats quoted here cover all of postcode 4101 including South Brisbane, Highgate Hill and West End.
If you would like a rental appraisal for your property call our Property Management team on 07 3214 6899 or email email@example.com
For median rent information visit www.WhatRentMyHome.com.au