West End Property Management: Summer Market Update
Open borders drive new tenant demand
The end of 2021 saw median rents flatline across inner-Brisbane and ease slightly in this neighbourhood. The border closure locked out interstate and overseas tenants, who’ve since returned in big numbers. Our leasing team had 968 new tenant enquiries in December and then a huge 1,644 in January. This recent surge in activity has included international students for the first time in two years.
The graph charting our total current number of bonds tells a story of a postcode where supply is simply not keeping up with demand. There’s been no new rental homes added to the 4101 rental pool in over 3 years so strong rent rises are expected throughout 2022.
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Note: RTA stats quoted here cover all of postcode 4101 including South Brisbane and Highgate Hill.