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 last week:
- Across Brisbane median weekly rent for a 2 bed apartment fell $10 to $400 – good for tenants, but only a return to the median rent we had in June 2015
- On average, inner-city suburbs outperformed and actually rose $5 to $490/week (didn’t read that in a Courier Mail headline now did you?!). This sum was first reached in September 2012.
- Rents did drop in some individual inner-Brisbane suburbs; the biggest drop was $10/week in Dutton Park, Woolloongabba and Buranda.
- 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 dropped $15/week to $425
- 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 now home to 25% of Brisbane’s rental pool, with 36,662 rented dwellings
- This inner-city rental supply rose by 856 dwellings (2.4%) in the June quarter
- despite big growth in the number of rental homes in areas like South Brisbane and the Valley, St Lucia and Toowong for example now have less rental homes than they did 2 years ago
Please share your comments on Brisbane’s rental market!