Spring Hill Property Management: Spring Market Update
Rents to spike when borders open
CBD/Spring Hill rents took a pause in the September quarter, holding their ground at $500/week but with demand for city homes clearly still softened by the impact of closed borders. When the last border closure hit our leasing team felt the immediate impact of losing interstate tenant enquiry.
The good news for local landlords? The supply graph shows there’s minimal construction bringing new apartments to the market and, as Queensland opens back up, this is the postcode that will feel the impact most. We expect strong rent rises during 2022.
Note: RTA stats quoted here cover all of postcode 4000 including Brisbane CBD.