All Topics / General Property / Has the rental market slowed in your area?

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  • Profile photo of JamesSampsonJamesSampson
    Member
    @jamessampson
    Join Date: 2010
    Post Count: 54

    Has anyone else noticed the rental market has slowed down quite alot? I put it down to all the first time buyers getting into the market while the handouts were ben given out by Mr Rudd.

    In Brisbane some properties in desirable locations have been on the rental market for some time. In one of my properties i had to lower the rental rate from $380 to $350, and its a new modern 2 bedroom unit 5 minutes from the CBD.

    Interesting times as the media say one thing but you see different results on the ground.

    Anyone else noticed this in their areas?

    Profile photo of Matt_ArnoldMatt_Arnold
    Participant
    @matt_arnold
    Join Date: 2006
    Post Count: 142

    Hi James

    I'm not sure about the actual vacancy rate or letting times, but in Gosford (Central Coast) i have noticed that the average advertised rent for a 2 bed unit has increased about $20 in the last 6 months…

    Matt

    Profile photo of devo76devo76
    Member
    @devo76
    Join Date: 2007
    Post Count: 542

    Not as hot as it was 6 months ago but it could be a winter thing.I recently got a bad tennant out and thought it would take days to fill. A month was the end result. Not so much the lack of people but more the lack of quality. Had a few  interested but they pulled out. Each one pulled out because the house they were in was no longer being sold due to finance falling through.typically but after signing new tennants there was a rush for my property.

    Profile photo of quickchickquickchick
    Member
    @quickchick
    Join Date: 2004
    Post Count: 168

    I perceive that Brisbane has somewhat of an over supply of rentals. (Due to massive amounts of development in recent years.)
    If you want to invest, always a good idea to check rental demand (eg vacancies) in that area before buying.
    Plus, check future employment prospects to see if the long term demand looks healthy.

    Elsewhere in Australia, I don't think rentals have dropped at all. Many areas have gone up.

    quickchick   

    Profile photo of JamesSampsonJamesSampson
    Member
    @jamessampson
    Join Date: 2010
    Post Count: 54

    Most suburbs in Brisbane still have a very tight rental market, according to the latest data.

    Its a case of the data not matching what I see on the ground. Looks like it is a local issue, thought this may have been seen in other areas as well.

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