Useful facts without opinions: Brisbane's rental market
The latest stats are out on our rental market. The Residential Tenancies Authority records the rent when a new bond is lodged and each quarter we sit down to analyse the results and get a handle on emerging trends. Here’s the numbers for the June quarter released this week:
– Across Brisbane median weekly rent for a 2 bed apartment dropped $5 to $390 – back to where it was in December
– Inner-city suburbs saw rents rise $20 to $490/week – a good increase, but only back to where we had already been in September!
– Over the past year the inner-city suburbs have had rent growth of 2.1%, compared to greater Brisbane’s 1.3% rise
– We track 2 bed apartments as our ‘headline’ stats due to their dominance in the rental market: but for comparison Brisbane’s 3 bed houses rose to $410 per week over this last quarter – a small increase after sitting for 15 months at $400/week
– The June quarter was quiet for tenancy changeovers; it’s always slower after the year’s normal busy start, but this year inner-Brisbane had 5% less bonds lodged than in June 2012: tenants are staying put
– By law all bonds held for a rental home must be lodged with the RTA, so their full count can provide interesting info: e.g. Our inner-city (just 21 suburbs) is home to 24% of Brisbane’s rental pool, with almost 33,000 rented dwellings
– This inner-city rental supply shrank by 126 dwellings in the June quarter; postcode 4000 for example now has less rental homes than it did 2 years ago
We’d love to hear your comments on the inner-Brisbane rental market.