Useful Facts Without Opinions: Brisbane’s rental market
The latest stats are out on our rental market. The Residential Tenancies Authority records the rent when a new bond is lodged and each quarter we sit down to analyse the results and get a handle on emerging trends. Here’s the numbers for the March quarter released last week:
- Across Brisbane median weekly rent for a 2 bed apartment was flat at $420
- On average, inner-city suburbs dropped $5 to $480/week (after a $5 rise in the previous quarter).
- Rents dipped in a number of inner-Brisbane suburbs; the biggest drop was $20/week in Newstead/Valley/Bowen Hills
- We track 2 bed apartments as our ‘headline’ stats due to their dominance in the rental market: but for comparison Brisbane’s 3 bed houses rose from $425 to $440/week
- By law all bonds held for a rental home must be lodged with the RTA, so their full count can provide interesting info: e.g. Our inner-city (just 21 suburbs) is now home to 26% of Brisbane’s rental pool, with 40,218 rented dwellings
- This inner-city rental supply rose by 1323 dwellings (3.4%) in the March quarter. This was the 3rd quarter in a row of growth in supply greater than 3%.
- There was big growth this past quarter in the number of rental homes in Newstead/Valley/Bowen Hills (447 extra dwellings) and South Bris/Highgate Hill/West End (319 extra rental properties)
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