Useful Facts Without Opinions: Brisbane’s rental market
The latest stats are out on Brisbane’s 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 was down $20 to $400
- On average, inner-city suburbs rose $5 to $485/week (after a $5 dip in the previous quarter). Inner-Brisbane’s median rents have hovered around this price since 2012.
- 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 also dipped $20 to $420/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 26% of Brisbane’s rental pool, with 41,090 rented dwellings
- This inner-city rental supply has now risen 12% in the past year (4,428 extra dwellings). The June quarter increase was however the lowest in a year with 872 homes (after 3 quarters of 1000+ growth in supply).
- There was sizeable growth this past quarter in the number of rental homes in South Bris/Highgate Hill/West End (226 extra dwellings) and Newstead/Valley/Bowen Hills (194 extra rental properties)
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