West End Property Management: Spring Market Update
Flat rents a positive for landlords
The good news for local landlords is the flattening of the median rent line on the graph, steady at $500/week in this postcode. And it’s good news because we’d seen a 6% drop over the past 12 months as the border closure flooded the inner-city with apartments no longer needed for travellers.
Vacancies now appear to have peaked with the latest REIQ data showing we have less rentals available than 3 months ago. That’s been our team’s experience as well, and with tenant enquiry continuing to be strong there’s growing optimism about the market for 2021.
Note: RTA stats quoted here cover all of postcode 4101 including South Brisbane and Highgate Hill.