Useful facts without opinions: Brisbane's rental supply
Brisbane’s rental market is absorbing new supply from a number of new apartment buildings and the return of investors to the market. There’s only one completely reliable source of data when it comes to our rentals and that’s the Residential Tenancies Authority, who hold a bond for each of these homes. Here’s some info from their December quarter report, just released:
• Brisbane now has almost 143,000 rental homes – across greater Brisbane the supply grew by 1,072 dwellings in the last quarter, a 0.8% rise. Over the calendar year it was up almost 3,300 for a 2.4% growth in supply.
• Inner-Brisbane accounted for almost half of the increase with 467 extra rentals added last quarter
• Fortitude Valley/Newstead and the South Brisbane/West End peninsula were the two notable growth areas, with 233 (4.8%) and 313 (5.5%) extra rental homes added respectively.
• Many other inner-Brisbane suburbs saw a drop in the rental pool – the CBD/Spring Hill continued to shrink, down 58 in the December quarter.
• Median rents remained flat: a 2 bed apartment is still $400/week (or $495 in our inner-suburbs)
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