Anyone know where I can find info on projected rent rises for Australia particularly Queensland.
done the usual searches but nothing really solid returned.thanks
silverfox
I have never come across anything similar in all my time searching.
What essentially are you after? Is it a broad measure about the market in general or is it specific to a post code or small region??
James
Here are two fantastic sites I came across today, silverfox. This one below is all the statistical information about overy area around brisbane- details about dwellings, rental etc. Much info is from 2001 census, so might be slightly outdated, but still a very good site:
http://wic001lc.server-web.com/statistical_portrait/brisbanes_regions/
The next site is even better! This site has details of rentals across brisbane and regional centres- up to Dec, 2003. It has details of all different types of properties- and specifics for 1-b’room units, for example, right up to 4-bed houses. I tell ya, best site on rents I’ve seen [lmao]
http://www.rta.qld.gov.au/december_quarter_2003.cfm
If you wanna check out past rents and compare etc, go to the general site:
http://www.rta.qld.gov.aukay henry
I will check them out.
In my experience rents have generally been decreasing since the late 90’s. Is that finally starting to change? If so, why?
Kim
Liddl,
I’ll take a punt and suggest that rents have remained about stable or “stagnant” over the past few- 5-10 years. The RE boom has seen more emphasis put on rental yield, I think- and more emphasis has been put on % yield than in the past.
Of course, these ideas of mine can be put to bed [baby] with someone doing an analysis of the rental yields over different quarters in the link I posted above :o))
kay henry
late 90’s = interest rates higher = competitive for rentals = rents high
interest rates coming down = lots more buyers = less sellers = more demand = less properties = rising prices = not as many renters = rents come down.
future –
interest rates rise = media spreads fear = consumer confidence down = not as many homeowners deciding to buy now = prices down = more renters = landlords increasing holding costs demand rent increases = more rental demand = rents rise then skyrocket = yields rise
and eventually….yields look attractive again, and buying season starts again. repeat cycle….
after all of that,
queensland may have a mind of it’s own, if there are more people moving to the area than there are properties to rent…I can tell you where I rent out In QLD, the rents from one year ago were 185 on ave for a home 3-4 bdrm, now fetching 210 min, more like 230
according to my real estate agent. lease is up for renewal.
Elves
Mini,
Did ya check that site out about rental yields? It has some great data in there for comparisons.
This one:
http://www.rta.qld.gov.au/december_quarter_2003.cfm…shows comparisons from Dec quarters 2001, 2002, and 2003.
I find some of the rates quite stable, some have even reduced from 2002-2003, but the trend has been slightly upward mostly.
kay henry
elves, your area might be on that site too :o))
kay henry
Kay,
Thanks very much for those sites. Fantastic information.[thumbsup2]
Cheers,
KarenYes, very good and informative sites, thanks Kay!
I received $266/week for my 2BRM Apartment IP in Indooroopilly (5% less then normal), wonder where it fits in.thanks kay, actually q’land is not really my area of expertise, although I’m watching it for the future. I guess, even though they have all these people moving there, there has been so much of a building boom that perhaps there is an oversupply of rental accom. I guess it all comes down to supply and demand.
Where I am buying, there is a strong rental demand, there was already when i bought there a year ago, and that demand seems to be 35 times increased in that year.
But it is the opposite of Q’land….
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