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 September quarter released last week:
– Across Brisbane median weekly rent for a 2 bed apartment was flat at $400 – pretty much unchanged since March 2014
– Inner-city suburbs remained flat at $495/week, also unchanged for more than one year
– There’s some variances between inner-Brisbane suburbs but there’s a clear trend of rents remaining stable and, in many cases, dropping.
– 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 remained flat at $420 per week
– 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 35,359 rented dwellings
– This inner-city rental supply rose by just 223 dwellings (0.6%) in the September quarter – despite big growth in the number of rental homes in areas like South Brisbane and the Valley, St Lucia for example now has less rental homes than it did 2 years ago
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