Milton rental market updates: Rents at record high
The dust appears to have settled on the former construction sites in our neighbourhood with no new additions to the rental pool in the March quarter. The cranes are down and the men in orange vests have moved on, leaving a far larger rental market than when the boom started in 2016. This postcode has had a 20% leap in the number of rental homes! New apartment towers have changed the local landscape, bringing thousands of new residents to our neighbourhood.
We continue to be impressed by the demand from tenants and the March quarter stats also show a return to the record high median rent of $470 per week. It’s premature for landlords to celebrate, but our property managers continue to negotiate small increases from most renewing tenants. There is no question demand for this part of Brisbane’s inner-city is strong and growing.
Like an rental estimate for your Milton property? Please contact our Milton property management team on 07 3214 6899 or firstname.lastname@example.org
Note: RTA stats quoted here cover all of postcode 4064 including Paddington.