Useful Facts Without Opinions: Brisbane’s rental market
The latest stats are out for Brisbane’s rental market and supply grew only slowly in 2019, while rents continued their cautious upward trend. Here’s the latest from The Residential Tenancies Authority report from all new rental bonds they collected in the last quarter.
- Brisbane’s inner-city recorded an increase of 2,537 rental homes in 2019, the slowest rise in supply since 2016.
- More than half this growth came from postcode 4006 (Newstead, Bowen Hill and the Valley) where they’ve now doubled their number of rental dwellings in the past 5 years.
- Broader Brisbane had a 3% increase in supply for the year, with 5,360 dwellings added.
- Brisbane’s inner-city rents didn’t grow at the end of 2019, maintaining the record median high of $500 per week achieved in the previous quarter.
- Across the broader Brisbane City Council area median weekly rent for a 2 bed apartment was down $10 to $420 in the last quarter.
- We track 2 bed apartments as our ‘headline’ stats due to their dominance in the rental market: but for comparison Brisbane’s 3 bed median house rents were up $15 to $445.
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