Posts Tagged with median rents Brisbane
Posted by admin on 17 January 2012
Brisbane’s tenants are out home-hunting in big numbers with a very busy start to the year. Bees Nees Manager, Annie von Rudzinski says real estate agents are “flat-strap”, reporting big crowds at many rental inspections and that’ll lead to solid rent increases on many homes.
It’s good news for Brisbane landlords after new Residential Tenancies Authority’s latest stats showed rents remained flat during the second half of 2011.
“Across Brisbane we had a 4% rise in rents last year but all of that was in the first half of 2011. Landlords have been patient and this busy start to 2012 is really encouraging,” Ms von Rudzinski said. “At the moment it’s not uncommon for more than a dozen tenants to arrive at each rental inspection. The supply of rental homes has not grown much at all but we’re still getting new tenants coming to Brisbane,” she said.
“Across Brisbane the total rental pool grew by just 1,131 properties (less than 1%) in the December quarter. In the inner-city suburbs we now have less rental homes to offer tenants than we did 3 months ago, so it’s inevitable rents will rise in that sort of market.”
December’s RTA stats showed no increase in rents since the June quarter. A 2 bedroom Brisbane apartment remained at $380 per week.
Tags: Brisbane rental properties, Brisbane rents, median rents Brisbane, rental prices Brisbane, rental supply Brisbane, Residential Tenancies Authority
Posted in Brisbane landlords, Brisbane's rental market | No Comments »
Posted by admin on 14 October 2011
New data on Brisbane’s rental housing market shows tenants are not moving as often, staying longer in their homes to save money. And it seems landlords are keeping a lid on rent rises to keep them there. Bees Nees’ Annie von Rudzinski says the Residential Tenancies Authority’s latest stats showed the turnover of tenancies is lower than during 2010.
“Tenants know that moving house is expensive and if their rent increases are fair they’ll stay put. The RTA stats show that over the past year Brisbane’s median rents rose just 4% and that’s been accepted by the market,” Ms von Rudzinski said. “Landlords have become more cautious too and many are reluctant to have an empty property. We saw the same conservatism during the GFC in 2008 and this means tenants currently have less pressure on them,” she said.
But the supply of rental homes is rising slowly and without new construction rents will increase again. “Across Brisbane the total rental pool grew by just 1,253 properties in the September quarter. That’s half the number we added in the June quarter – we’re just not bringing a lot of new rental housing onto the market.”
September’s RTA stats showed no increase in rents on the June quarter. A 3 bedroom Brisbane house rent remained at $390 per week while a 2 bedroom apartment is $380.
Tags: Brisbane housing supply, Brisbane property manager, Brisbane rents, Brisbane tenants, median rents Brisbane, property management Brisbane
Posted in Brisbane landlords, Brisbane's rental market | No Comments »
Posted by admin on 21 July 2011
Rents rose strongly in the June quarter, our median 2 bed apartment rising $40 to a record $580 per week. The downturn in international students at the start of 2011
had slowed the market but a resurgent corporate demand has seen us achieve some great results for landlords. The supply of rental homes in this postcode is slowly starting to rise again, but we’re still below the levels of 2 years ago. The CBD’s record rents are steadily encouraging tenants to look up the hill and, while affordability is affecting some tenants, Spring Hill landlords are benefiting.
Note: RTA stats quoted here cover all of postcode 4000 including Spring Hill and Brisbane CBD
If you would like a rental appraisal for your property just give our head of Property Management – Annie von Rudzinksi a call on 07 3214 6899.
For median rent information visit www.whatrentmyhome.com.au
Tags: Brisbane apartments, brisbane cbd rents, Brisbane housing supply, Brisbane property manager, Brisbane real estate agents, Brisbane rents, cbd rents, investment property, median rents Brisbane, property management Brisbane, Rental Market, rental supply Brisbane, Spring Hill property manager, Spring Hill Real Estate Agent, Spring HIll REnts, tenants Brisbane
Posted in Brisbane CBD, Spring Hill | No Comments »
Posted by admin on 21 July 2011
We like to use the 2 bed apartment rents as our benchmark and across inner-Brisbane they rose 4% in the 3 months to June 30th. Across wider Brisbane City they rose just 1% and there’s no doubt some pockets are witnessing stronger demand than others. Rents in Woolloongabba and Dutton Park area rose a very strong $40/week to $440, but local 3 bedroom houses dipped $20. So while the trend is up the market is still finding its way. There’s still some catch up on neighbouring suburbs happening and tenants are recognising the good value the suburb offers.
Note: RTA stats quoted here cover all of postcode 4102 including Woollongabba, Buranda and Dutton Park
If you would like a rental appraisal for your property just give our head of Property Management – Annie von Rudzinksi a call on 07 3214 6899.
For median rent information visit www.whatrentmyhome.com.au
Tags: apartments for rent woolloongabba, Brisbane apartments, Brisbane housing supply, Brisbane property manager, Brisbane real estate agents, Brisbane rents, Dutton Park property manager, gabba property manager, gabba rents, investment property, median rents Brisbane, property management Brisbane, Rental Market, rental market woolloongabba, rental supply Brisbane, rents in woolloongabba, tenants Brisbane, woolloongabba property manager
Posted in Brisbane's rental market, Dutton Park, Woolloongabba | No Comments »
Posted by admin on 21 July 2011
The official data for the June quarter’s just been released and landlords (and would-be investors) should take encouragement from them. We like to use the 2 bed apartment rents as our benchmark and across inner-Brisbane they rose 4% or $20 to $470/week in the 3 months to June 30th. Across wider Brisbane City they rose just 1% and there’s no doubt some pockets are witnessing stronger demand than others.
The CBD/Spring Hill was up $40 (but this followed a $35 dip in March when the lackluster student demand pulled things back). The West End peninsula has just dropped $20 after a $30 rise in the March quarter. So while the trend is up the market is still finding its way.
Out of interest 3 bed houses (the next largest rental type in inner Brisbane) also rose $20 in the June quarter to reach $500/week. The rental pool did grow over that time, but only by 366 dwellings. Some areas like postcode 4066 actually lost homes from the rental supply during the quarter, usually the result of owner-residents buying from investors.
For median rents in your Brisbane postcode go to www.WhatRentMyHome.com.au
Tags: Brisbane rental properties, Brisbane rents, median rents Brisbane, rental supply Brisbane, www.WhatRentMyHome.com.au
Posted in Brisbane landlords, Brisbane's rental market | No Comments »
Posted by admin on 18 July 2011
We like to use the 2 bed apartment rents as our benchmark and across inner-Brisbane they rose 4% in the 3 months to June 30th. Across wider Brisbane City they rose just 1% and there’s no doubt some pockets are witnessing stronger demand than others. Rents in this 4101 peninsula dropped $20 to $480 after a $30 rise in the March quarter. So while the trend is up the market is still finding its way. We added just 31 homes to the local rental pool in the June quarter, and while some new apartment projects are underway there’s good reason to expect rents to grow further.
Note: RTA stats quoted here cover all of postcode 4101 including South Brisbane, Highgate Hill and West End
If you would like a rental appraisal for your property just give our head of Property Management – Annie von Rudzinksi a call on 07 3214 6899.
For median rent information visit www.whatrentmyhome.com.au
Tags: Brisbane apartments, Brisbane housing supply, Brisbane property manager, Brisbane real estate agents, Brisbane rents, Highgate Hill property manager, Highgate Hill Rents, investment property, median rents Brisbane, property management Brisbane, Rental Market, rental supply Brisbane, South Bank Rents, South Brisbane property manager, South Brisbane Rents, tenants Brisbane, West End property manager
Posted in Brisbane landlords, Brisbane's rental market, Highgate Hill, South Brisbane and South Bank, West End | No Comments »
Posted by admin on 15 April 2011
A new report shows Brisbane tenants are paying $10 per week more in rent.
Bees Nees Research Managing Director, Rob Honeycombe says Brisbane’s rents rose for both apartments and houses during the March quarter. Residential Tenancies Authority stats released today show upward pressure on rents right across Brisbane’s suburbs.
“People will point to the January floods as the reason for rents rising, and some heavily-effected suburbs did have spikes in their rents. A 2 bedroom apartment in St Lucia for example jumped $20 per week, with many apartments still damaged at the start of the University year. But other flood-impacted areas like Rosalie, Milton and Paddington actually saw a drop of $5 per week.”
“We’d argue the trend was already in place for increases to rents. Without new construction in recent years the market was always going to catch up and we now have a rental housing shortage. Brisbane tenants have had pretty flat rents for over 2 years but their rents are now definitely on the rise”.
A median 3 bedroom Brisbane house now rents for $390 per week, while a 2 bedroom apartment is $375.
“One clear impact of the floods was that unless tenants had to move, they stayed put. Turnover was lower than for the same period in 2010, especially in inner-city suburbs where there were 7% less new bonds lodged this past quarter.”
Tags: Brisbane apartments, Brisbane floods 2011, Brisbane houses, Brisbane housing supply, Brisbane property manager, Brisbane tenants, median rents Brisbane, Milton Brisbane, Paddington Brisbane, property management Brisbane, rental supply Brisbane, Residential Tenancies Authority, Rosalie Brisbane, St Lucia Brisbane, Toowong Brisbane
Posted in Brisbane landlords, Brisbane's rental market | No Comments »
Posted by admin on 19 January 2011
and the clean up begins
A reported 11,900 Brisbane homes were completely flooded last week, with another 14,700 partially flooded. So naturally there’s some panic that Brisbane is about to have a severe housing crisis. If you’ve been forced from your home this is a heartwrenching time and our thoughts are very much with those residents.
But in looking at the potential rental demand we just don’t believe the numbers of inner-city tenants looking for a new dwelling is anywhere near as high as they’re being reported.
Estimates had to be given, no-one can physically check every home and we don’t know the source of the Courier Mail’s data. But according to a spreadsheet on their website South Brisbane for example had 2,132 residential properties either fully or partially flooded. But out there on the ground we just can’t find them! There’s no lines of debris on the footpaths, no army assistance and little of that muddy stench that’s already the tell-tale of a submerged Brisbane street. Brisbane CBD has 1,199 residential dwellings inundated according to the list but most, if not all, of these will be highrise towers.
A number of buildings had some water into their basements and the limited access and power outages are a pain in the backside. A number of these residents have had to seek short-term accommodation. But how many will need new homes? In perhaps many inner-Brisbane suburbs, the numbers may be a lot less than anticipated.
The RTA yesterday released their rental data for the December quarter and it shows many inner-Brisbane suburbs have already had a small rent rise, something we’ve seen amongst our rentals for some weeks now. January and February are our peak leasing months, especially near the universities, and we were expecting a rise in rents before the floods.
Short-term accommodation will be strained to capacity, and rents will see some solid growth. But in our view landlords shouldn’t count on skyrocketing rents as a result of the floods.
To see the latest median rental data for your suburb (choose your bedroom number and dwelling type) go to www.WhatRentMyHome.com.au
Tags: Brisbane floods 2011, Brisbane rents, Brisbane short term rental, median rents Brisbane, rental supply Brisbane
Posted in Brisbane landlords, Brisbane's rental market, Dutton Park, Highgate Hill, South Brisbane and South Bank, Spring Hill, West End, Woolloongabba, trends in Brisbane property | No Comments »
Posted by admin on 25 October 2010
The big news in the latest data is the recent growth of the rental pool in Brisbane’s inner city. After 3 years of shrinking supply 2010 has reversed that trend and tenants now have more properties to choose from. Some of this may be due to investors returning to the sales market, along with “hotel” apartments been placed back in the long term rental pools. The past year has effectively seen no rent increase ($540/week) but for the most part the area proved resilient and it’s the corporate and executive rental markets that have been most effected. There’s a much smaller number of rented houses in the area and their rent has firmed – now $520 for a 3 bed.
This is still far and away the most expensive rental destination in Brisbane and the stable rents confirm that the area still needs more new apartments to fill demand. While the new developments of 2003 to 2006 did boost supply enormously the number of rental homes on offer to tenants is not growing at the rate needed.
Note: RTA stats quoted here cover all of postcode 4000 including Spring Hill.
Tags: median rents Brisbane, rental supply Brisbane
Posted in Brisbane CBD, Brisbane's rental market | No Comments »
Posted by admin on 19 July 2010
The Residential Tenancies Authority recently released their June quarter stats and analysis by Bees Nees Research shows inner Brisbane’s rents have now remained flat for well over a year. Small drops in some suburbs shows landlords are being cautious and reducing their rents to keep their homes rented.
Bees Nees head of Property Management Annie von Rudzinski said a more balanced market had replaced the strong rental growth of 2007-2008.
“In postcode 4101 for example we have the same median rents for a 2 bed apartment that we did in September 2008 at $450 per week. The appeal of South Brisbane, West End and Highgate Hill is still very much on the rise but saving money in tougher times has drawn some tenants into cheaper areas further out.”
The RTA shows rents are flat right across Brisbane and Ms von Rudzinski believes landlords are reluctant to push for rent increases. “Rising interest rates do make some landlords nervous and that has a flow on effect. To see a drop in popular spots like Fairfield and Annerley (down $10 to $310 per week for a 2 bed apartment) suggests tenants are getting good value. A typical house in that area is still $400 per week, the same level as September 2008.”
One of the few inner city areas to see a rise in the June quarter was a $10 increase for Woolloongabba/Dutton Park apartments.
Tags: Brisbane Property Management, median rents Brisbane, Residential Tenancies Authority
Posted in Brisbane landlords, Brisbane's rental market, Dutton Park, Highgate Hill, South Brisbane and South Bank, West End, Woolloongabba | No Comments »
