Spring Hill rental market: Over 1200 rentals were added to local market in just 2 years.
Brisbane’s inner city suburbs are home to around a quarter of Brisbane rentals yet it mightn’t surprise that they account for almost half our growth. We see this every day in our property management team, our leasing managers helping tenants move from the burbs. And new arrivals choosing to stay close to our work and entertainment hubs. Streets that were quiet and dull after dark are now filled with apartment buildings, cafes and bars. In the 4000 postcode we’ve witnessed a 25% leap in rental supply in just 2 years, an extra 1,200 tenancies.
Healthy tenant demand has seen much of this new apartment supply absorbed by the Spring Hill rental market and the latest vacancy data shows we’re returning to a more balanced market. Landlords do need to be competitive – there are still some large developments under construction in near city suburbs – but while median rents are yet to rise they are reflecting this resilience in the market.
Like an update on the current rental market for your Spring Hill property? Please call our Brisbane property management team on 07 3214 6899 or firstname.lastname@example.org