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Posts Tagged with rental prices 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.

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Posted in Brisbane landlords, Brisbane's rental market | No Comments »

Posted by admin on 24 April 2011

A wind of change is brewing for Woolloongabba and Dutton Park and you can see it in the latest rental stats, released with the Residential Tenancies Authority’s March quarter report. Local apartment rents are back up to $400 (for a median 2 bedroom) from $380 last quarter, with 3 bedroom houses rising $50 to $470/week. These rents are rising but the glimpse of what’s to come lies with a comparison to the adjoining postcode 4101. In the Gabba and Dutton Park median rents are so much cheaper than Highgate Hill and the other 4101 suburbs – $100 cheaper for a 2 bed apartment – that it’s hard to justify.

Some of this is due to new apartment projects in West End adding higher quality stock to their rental pool.  But on any measure the Gabba and its surrounds have plenty to offer and the area’s proximity to the CBD is often overlooked. Rents across the inner-city were generally flat through 2009 and 2010 but patient landlords look like they’ll now be rewarded. In Woolloongabba there might be some “catch up” in the next couple of years.

Note: RTA stats quoted here cover all of postcode 4102 including Dutton Park. Buranda is a locality within the suburb of Woolloongabba so its also included.

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Posted in Brisbane landlords, Brisbane's rental market, Dutton Park, Woolloongabba | No Comments »

Posted by admin on 23 April 2011

The March quarter stats are out from the Residential Tenancies Authority and after a couple of years of fairly stable rents we’ve now had 2 quarters of growth in postcode 4101. The median rent for a two bedroom apartment has hit $500 per week, a significant milestone as the first area outside the CBD to reach that mark. It’s good news for patient landlords.

And interestingly the gap between postcode 4000 and 4101 is shrinking noticably. It’s now just $40/week dearer to live in the CBD than the West End/South Brisbane/Highgate Hill area, where it was $100 more a couple of years back. Why? One reason is the new developments through West End’s riverside precinct that  have added a number of quality apartments with typically high rents. The inner-south’s early history may have been working class, but these suburb’s tenants now pay some of the highest rents in Queensland.

Go to www.WhatRentMyHome.com.au to see current median rents for other Brisbane suburbs. Note: RTA stats quoted here cover all of postcode 4101 including Highgate Hill, South Brisbane and West End.

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Posted in Brisbane landlords, Brisbane's rental market, Highgate Hill, South Brisbane and South Bank, West End | No Comments »

Posted by admin on 23 April 2011

One thing that graphs do really well is illustrate trends, and the simplest analysis of the charts below show that supply of rental housing in the city is not coming online in big enough numbers. In fact there’s now less homes available for rent in postcode 4000 than there were 2 years ago. We’d suggest it’s only the easing of demand from international students that’s kept a relative lid on rents so far. They’ve been a huge part of our CBD demand for some years so the drop in student numbers this past 6 months could have seen a dip in rents. But it’s now over 2 years since we saw any residential building completed in the area and rents have held firm.

Watch this space over the next quarter - CBD, fully furnished apartments especially have seen some really strong rents achieved over the past couple of weeks.

Go to www.WhatRentMyHome.com.au to see current median rents for other Brisbane suburbs. Note: RTA stats quoted here cover all of postcode 4000 including Spring Hill.

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Posted in Brisbane CBD, Brisbane landlords, Brisbane's rental market, Spring Hill | No Comments »

Posted by admin on 16 January 2010

MEDIA RELEASE
Saturday 16th January 2010

New data on Brisbane’s rental housing market was released yesterday and it shows the city’s rents flat-lined during 2009. According to the Residential Tenancies Authority statistics, the December quarter again showed no change to median weekly rents.

Bees Nees Research Managing Director, Rob Honeycombe says a typical Brisbane house has now had the same rent for a year, with apartments rising just 1%. So this week’s controversial Australian Property Monitors forecast for an 8% rise during 2010 is “ambitious”, he said.

“There’s a shortage of rental homes, no doubt about that. But 8% growth is a big leap from 0%”, Mr Honeycombe said.

December’s stats showed a 3 bedroom Brisbane house rent remained at $370 per week while a 2 bedroom apartment still costs $355.

Mr Honeycombe said the APM forecast pointed to greater job confidence amongst Brisbane tenants and the end of the First Home Boost as stimulants for higher rents.

“On the ground, real estate agents are reporting a busy January market with a lot more turnover than any time during 2009. But tenants are not generally agreeing to big rent increases. There’s obviously still caution about their jobs and rent affordability remains top of mind.”

“Landlords are still cautious too. Their mortgage rates are up and they don’t want to risk a vacant home.”

“This will be a better year for property investors but we’d argue the rent rise will be a steady one.”

Bees Nees Research

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Posted in Brisbane landlords, Brisbane's rental market | 1 Comment »

Posted by Rob Honeycombe on 15 January 2010

The latest RTA data is out and the graph below shows rents stayed the same during the December quarter, still the $450 per week for a 2 bed apartment we’ve had since September of 2008. After booming rents in 2007/2008 the demand/supply equation evened out during 2009.

Some new rental supply was added with the “SL8″ apartments (112 of them) in West End, and combined with some tenant job losses there’s been less local competition for homes. Many tenants became first home owners so this also reduced the rental demand.

The median rent for three bed houses did drop back to $450 but with just a few bonds lodged (median rents are only calculated on new tenancies) it’s hard to make any sweeping statements on that. Obviously new houses aren’t been added to the market in any great number.

Despite the flat rental prices this remains Brisbane’s most expensive rental area outside the CBD. Looking ahead we’d suggest rents will continue to grow as the suburb’s popularity is definitely on the rise and we anticipate very few new homes being completed over coming months.

Note: The RTA groups all of postcode 4101 including South Brisbane and West End, so the stats quoted here cover the 3 suburbs.

Visit www.WhatRentMyHome.com.au for the latest median rents on other Brisbane suburbs or email me at karenb@beesnees.com.au if you’d like a rental market estimate for your property.

Highgate Hill rental market

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Posted in Highgate Hill | No Comments »

Posted by admin on 15 January 2010

The latest RTA data is out and the graph below shows rents stayed the same during the December quarter, still the $450 per week for a 2 bed apartment we’ve had since September of 2008. After booming rents in 2007/2008 the demand/supply equation evened out during 2009.

Some new rental supply was added with the “SL8″ apartments (112 of them) in West End, and combined with some tenant job losses there’s been less local competition for homes. Many tenants became first home owners so this also reduced the rental demand.

The median rent for three bed houses did drop back to $450 but with just a few bonds lodged (median rents are only calculated on new tenancies) it’s hard to make any sweeping statements on that. Obviously new houses aren’t been added to the market in any great number.

Despite the flat rental prices this remains Brisbane’s most expensive rental area outside the CBD. Looking ahead we’d suggest rents will continue to grow as the suburb’s popularity is definitely on the rise and we anticipate very few new homes being completed over coming months.

Note: The RTA groups all of postcode 4101 including Highgate Hill and West End, so the stats quoted here cover the 3 suburbs.

Visit www.WhatRentMyHome.com.au for the latest median rents on other Brisbane suburbs or email me at karenb@beesnees.com.au if you’d like a rental market estimate for your property.

brisbane rental market

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Posted in South Brisbane and South Bank | No Comments »

Posted by admin on 17 September 2009

So your neighbour is pulling in $500 per week in rent and you’re only getting $480 for a comparable property. What’s better for you financially? To get the best possible rental price, or reduce the vacancy of the property?

Let’s compare:

  • $500 per week for 6 months is $13,000
  • $500 per week for 6 months but with a vacancy of 3 weeks is $11,500

versus:

  • $480 per week for 6 months is $12,480
  • $480 per week for 6 months but with a vacancy of only 1 week is $12,000

Of course, your agent wants to get you the maximum price for your property because they receive a percentage – the more you earn, the more they earn!

But, leaving your property sit vacant for more than a week or two can be more detrimental to your bottom line than you think.

People also talk about the benefits of keeping your tenants happy by only charging them a sensible rent and not pushing their limitations too much. This can be true, but this is really about you. You own investments for your own benefit, not your tenants.

So do your calculations and have a game plan in mind for when your properties become vacant. And most importantly of all, use a property manager you trust and who knows the market.

vacancy and rent

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Posted in Brisbane landlords, Brisbane's rental market | No Comments »