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Posts Tagged with www.WhatRentMyHome.com.au

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

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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 18 December 2009

Our MD Rob writes a regular column for the property pages of OurBrisbane.com Here’s the latest:

Brisbane apartmentIf life is like a box of chocolates, Brisbane’s inner city is the variety pack! Property investors can choose from modern studio apartments for $140,000 or six-pack style apartments from the 1970’s for $350,000. Modern high-rise apartments range from $350,000 to $7 million. Or for those who crave their own piece of dirt, houses are generally priced from $500,000 upwards.

As a property investor do you see yourself as a small business person? You should. Your annual rental income will likely be $25,000 or more, so it’s worth having a good hard look at the rental marketplace and working out what product offering you’re going to make.

Some people dream of owning a riverfront penthouse, but for rental returns they’re lousy. There are not many tenants wanting to spend $2000 per week. Median priced homes are the safest territory as this is where the majority of people live. Around the CBD and surrounding suburbs the going rate is $430-$520/week for a 2-bedroom apartment. Have a look at www.WhatRentMyHome.com.au for median rents in all inner city suburbs.

Tenants don’t have the long term focus of a buyer, so while future improvements like new bridges, tunnels or new shops are all a key part of your capital gain plans, they’re not going to earn more rent for you today. A suburb like Woolloongabba might not earn top rent today, but what if that new subway goes ahead with a station in the suburb linking it directly to the CBD’s Riverside Centre?

We see investing in property as a balancing act, capital gains being the main aim and rental returns important to your holding costs.

So why choose the inner city over a modern house in the ‘burbs? Like many purchasing decisions your location choice is probably more about your own needs than the final property you buy. Is it a set-and-forget investment where you have minimal involvement? Or do you want to add value to the property by spending your weekends labouring at plastering walls or back-breaking paint work? (Okay so I’m giving away some bias here!). Your decision will vary too if you’ll want to make the place your own home one day.

What the inner city clearly offers investors is Brisbane’s largest rental market. We survey tenants regularly and a home’s proximity to their workplace always ranks highly in their decision making.

The CBD is our largest workplace by a country mile, with St Lucia’s University campus also a massive pool of potential tenants. We don’t believe rental returns will make you rich but, for peace of mind, keeping your cash input to a minimum, and simply having the largest choice of potential occupants, it’s hard to beat the inner city.

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