The zig-zagging median rents graph below shows local landlords still need to be patient. While the cranes are coming down in big numbers, the huge supply of new apartments has taken some absorbing, with yet another 82 dwellings added to the 4066 rental pool in the June quarter.
A 2 bed apartment now rents for $400/week, a figure first seen in 2012. But Bees Nees Realty’s property managers are witnessing some small increases in their lease renewals, and with the vacancy rate slowly improving it is hard to see rents remaining so low for long. Demand for rental homes in this neighbourhood is very strong.
Like an rental estimate for your Toowong & Auchenflower property? Please contact our Toowong & Auchenflower property management team on 07 3214 6899 or firstname.lastname@example.org
Note: RTA stats quoted here cover all of postcode 4066.