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 – we’ve hovered around that mark now since early 2014
- On average, inner-city suburbs dropped $10 to $480/week. This sum was first reached in June 2012.
- Rents dipped in a number of inner-Brisbane suburbs; the biggest drop was $20/week in the CBD/Spring Hill
- 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 slightly to $430/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 now home to 25% of Brisbane’s rental pool, with 37,756 rented dwellings
- This inner-city rental supply rose by 1094 dwellings (3%) in the September quarter
- There was big growth this past quarter in the number of rental homes in Newstead/Bowen Hills (353 extra dwellings), The Gabba (262) and Kangaroo Pt (126).
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