Spring Hill rental market update: Have rents bottomed?
The median rents graph below shows a long-awaited uptick in the June quarter, but local landlords aren’t yet celebrating. This mark of $530/week was first achieved a decade ago, so it’s been a long run of declining rents as the inner-city’s apartment supply exploded.
Some optimism is warranted however, with the pipeline of new apartments easing fairly quickly in both 4000 and across the inner-city. Tenant demand for our lifestyle is higher than it’s ever been and Bees Nees Realty’s property managers are witnessing some small increases in their lease renewals. It is hard to see rents remaining so low for long.
Like an rental estimate for your Spring Hill property? Please contact our Spring Hill property management team on 07 3214 6899 or firstname.lastname@example.org
Note: RTA stats quoted here cover all of postcode 4000 including Brisbane CBD.