Useful Facts Without Opinions: Brisbane’s rental market
Here’s the official numbers for Brisbane’s rental market for the March quarter. These stats are reported by the Residential Tenancies Authority each time a new bond is lodged so they’re as accurate as it gets.
- Across Brisbane median weekly rent for a 2 bed apartment was up $10 to $430. This is a new record high, up from the previous peak of $420/week in March 2018.
- On average, inner-city suburbs were flat at $490/week. Inner-Brisbane’s median rents first hit this mark in 2012!
- 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 also increased, up $15 to a new record high of $450/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 28% of Brisbane’s rental pool, with almost 50,000 rented dwellings
- While the rate of growth has slowed dramatically compared with 2017 and 2018, this inner-city rental supply still rose 8% in the past year (3,500 extra dwellings).
- The 12 month increase in rental homes has been dominated by postcodes 4101 (South Bris/Highgate Hill/West End with an extra 1,226 dwellings) and 4006 (Newstead/Valley/Bowen Hills (954 extra rental properties).
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