Connect with us

Market Place

Looking for a property to rent? Good luck finding something here

Published

on

Looking for a property to rent? Good luck finding something here

Realestate.com.au has revealed the most in-demand suburbs for rental properties. Source: ThinkStock

LOOKING for a rental property? You’ll have to move pretty quick if you want to snare one in these areas which have been identified as Queensland’s most in-demand rental suburbs.

DEMAND for rental properties in Brisbane has jumped by nearly 24 per cent in the past year, new figures from realestate.com.au reveal.

As competition for rentals heats up, the site has also identified the most sought-after suburbs to lease a property in the past six months, within 20km of the CBD.

The research shows more people want to rent a house in Brisbane’s inner north than anywhere else in the city, but the southside prevails when it comes to demand for unit rentals.

Realestate.com.au chief economist Nerida Conisbee said the site had already recorded 1.2 million searches for rentals in Brisbane in just the first two weeks of 2018.

Ms Conisbee said realestate.com.au’s rental demand index was up nearly 23.8 per cent in Brisbane compared to the same time last year.

“What that typically means is it reflects jobs growth,” she said.

“I think it’s good news for Brisbane.

“The growth in rental demand is similar to Melbourne but a lot higher than Sydney.”

Camp Hill, 6km from the CBD, tops the list for units in the city, attracting more than 820 online visits per property, followed by Holland Park.

The median weekly rent for a unit in Camp Hill is $370.

Camp Hill is the most in-demand suburb to rent units, according to realestate.com.au. Picture: Patria Jannides. Source: News Corp Australia

Camp Hill is the most in-demand suburb to rent units, according to realestate.com.au. Picture: Patria Jannides. Source: News Corp Australia

When it comes to houses, you’ll have a tough time snagging something in Fortitude Valley, with listings in the inner-city suburb receiving more than 1200 online visits in the second half of 2017.

It was followed closely by nearby Windsor, New Farm and Newmarket, which all attracted more than 1100 views per listing.

Fortitude Valley is the most in-demand suburb for houses to rent. Picture: Jono Searle. Source: News Limited

Fortitude Valley is the most in-demand suburb for houses to rent. Picture: Jono Searle. Source: News Limited

The median weekly rent for a house in Fortitude Valley is $465, but jumps to $753 in New Farm.

A quick search on realestate.com.au reveals there are not many houses for rent in Fortitude Valley, but plenty to choose from if you venture into its neighbouring suburbs.

A four-bedroom, two-bathroom cottage at 176 Arthur St, Fortitude Valley, is currently for lease for $600 a week.

In New Farm, this three-bedroom Queenslander at 585 Lower Bowen Terrace is available for $625 a week.

This house at 176 Arthur St, Fortitude Valley, is for rent. Picture: realestate.com.au. Source: Supplied

This house at 176 Arthur St, Fortitude Valley, is for rent. Picture: realestate.com.au. Source: Supplied

 

This house at 585 Lower Bowen Tce, New Farm, is available for rent. Source: Supplied

This house at 585 Lower Bowen Tce, New Farm, is available for rent. Source: Supplied

For $330 a week, you can rent a tidy, two-bedroom unit in Camp Hill, like this one at 6/25 Bundah Street.

This spacious, two-bedroom, two-bathroom unit at 827 Steele St, Holland Park, will set you back $120 more.

ISLAND GEM SELLS

Unit 6, 25 Bundah St, Camp Hill, is for rent. Picture: realestate.com.au. Source: Supplied

Unit 6, 25 Bundah St, Camp Hill, is for rent. Picture: realestate.com.au. Source: Supplied

This unit at 27 Steele St, Holland Park, is for lease. Picture: realestate.com.au. Source: Supplied

This unit at 27 Steele St, Holland Park, is for lease. Picture: realestate.com.au. Source: Supplied

Rental applications often peak in January as many renters view summer as the perfect time to find a better deal.

Ms Conisbee said most people looking to rent were often younger, which might explain the popularity of Fortitude Valley and surrounding suburbs.

“It has to do with those areas being very popular with young people,” she said.

“These areas are a lot of fun, have a good night-life, restaurants and are close to the city.”

Ms Conisbee said the high-demand areas for apartments were suburbs that did not have much apartment stock, such as Camp Hill and Holland Park.

Realestate.com.au's most in demand suburbs for renting units in Queensland. Source: The Courier-Mail

Realestate.com.au’s most in demand suburbs for renting units in Queensland. Source: The Courier-Mail

In good news for renters, vacancy rates in Brisbane rose in December from 3.4 per cent to 3.8 per cent, according to the latest figures from SQM Research.

They had tightened significantly over the past year.

But rents are also rising, with asking rents for houses up 1.1 per cent to $448 a week and units rising 0.6 per cent to $368 during the month.

SQM Research managing director Louis Christopher said it was common for vacancies to rise in December due to seasonality.

Mr Christopher said vacancy rates in all capital cities rose in December, but the rise in Sydney was larger than expected.

Realestate.com.au’s most in-demand suburbs to rent a house in Queensland. Source: The Courier-Mail

Realestate.com.au’s most in-demand suburbs to rent a house in Queensland. Source: The Courier-Mail

Originally published: news.com.au

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Market Place

Interstate buyers flood the Brisbane market for classic family Queenslanders

Published

on

Interstate buyers flood the Brisbane market for classic family Queenslanders
Continue Reading

Market Place

These greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you

Published

on

These greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you

300 Kent St, New Farm. Picture: realetate.com.auSource:Supplied

THESE greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you.

The value of greater Brisbane’s property market is continuing to grow with new figures revealing there are now 24 suburbs with a median house price of more than $1 million.

The highest is Teneriffe which was the first suburb to breach the $2 million median market and now has a median house price of $2.2 million.

It is followed by neighbouring suburb New Farm which has a median house price of $1.725 million.

These greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you

300 Kent St, New Farm. Picture: realetate.com.auSource:Supplied

You’ll need to travel a little further for the suburb with the third highest median house price – Pallara, which currently sits at $1.51 million.

In Teneriffe, $1.785 million will buy you a restored, three-bedroom, former worker’s cottage at 300 Kent Street.

These greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you

300 Kent St, New Farm. Picture: realetate.com.auSource:Supplied

The home has VJ walls, the internal rooms have been reconfigured and original hoop pine floorboards uncovered.

New Guinea rosewood, custom built-in joinery is used throughout the home. There are two freestanding “pods’’ underneath one of which houses the laundry and bathroom, the other a secondary kitchen which leads to a two-tiered entertainment deck with built-in concrete seating.

It is listed through Karla Lynch and Matt Lancashire of Ray White New Farm.

At New Farm, a four-bedroom home at 30 Turner Ave is listed for sale. The contemporary home has a 2000-plus, climate-controlled wine cellar with remote controlled doors, home office, powder room and guest bedroom.

These greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you

30 Turner Ave, New Farm.Source:Supplied

Outdoors is a patio and outdoor kitchen and a heated swimming pool with built-in spa jets, and the lower level has a three-car garage. It is listed through Sarah Hackett of Place – Bulimba.

The high median house price at Pallara is indicative of the number of large blocks being sold for future housing development.

These greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you

30 Turner Ave, New Farm.Source:Supplied

A three-bedroom home at 112 Esky Rd on 14,780sq m of land is scheduled for auction on July 14.

The property is fully fenced and is described as ideal for self-sustainable living. There are already coffee trees and established fruit trees and a chook pen and run. The property has a total of 45,000 litre rainwater tanks plus town water.

Inside the home are open living areas, a wood heater and ducted airconditioning throughout. The kitchen has a built-in pantry and a breakfast bar.

These greater Brisbane suburbs have a median house price of more than one million dollars. See what that buys you

112 Esky Rd, PallaraSource:Supplied

It is listed through Brandy Mandic and Char Gribble of Raine & Horne.

Source: www.news.com.au

Continue Reading

Market Place

Brisbane apartment slump over with values set to rise: Moody’s

Published

on

Brisbane apartment slump over with values set to rise: Moody’s

The latest housing report believes “the worst is over” for the housing slump, especially in the apartment sector.Source:News Corp Australia

RELIEF may be in sight for Brisbane apartment owners, with latest forecasts predicting “the worst is over” for the region’s unit market with values set to rise this year.

The CoreLogic-Moody’s Analytics Australian Home Value Index Forecast said Greater Brisbane would see a massive 6.5 per cent rise in apartment values next year, which comes after several years of oversupply warnings across the region.

It expected apartment values overall across Greater Brisbane to recover this year, growing 0.8 per cent in 2018, after backsliding -2.9 per cent last year.

The report expected 80 per cent of the region to see apartment values go into positive territory this year, with only the Brisbane Inner City (-3.5 per cent) and Moreton Bay — South (-3.3 per cent) to lag in negatives.

Next year though was expected to see all ten sectors of Greater Brisbane get back in the black — with the biggest rise to come out of Moreton Bay — North units (8.7 per cent), following by those in Ipswich (8.1 per cent).

The lowest growth in apartment values was expected to be 3.5 per cent coming out of both Brisbane — North and Brisbane — South.

Brisbane apartment slump over with values set to rise: Moody’s

CoreLogic-Moody’s Analytics Australian Home Value Index Forecast: June 21, 2018Source:Supplied

It found apartment approvals outnumbered housing approvals on average by 2.3 to 1 from 2012 to 2016 in Brisbane — South, which saw apartment values decline 3.8 per cent last year.

“However recently, approvals between the two asset classes have converged. This will likely see apartment values rebound 1.3 per cent in 2018,” the report said, with the pace picking up in the new year to 3.5 per cent.

No other part of the state had the same oversupply issues as Brisbane did, the report said, with “lifestyle” areas such as the Sunshine Coast, Wide Bay, and Cairns expected to perform better with housing values forecast to rise 5.7 per cent this year and close to 2 per cent in 2019.

Home values on the Gold Coast were also expected to rise almost 4 per cent this year and 6 per cent in 2019, while in resource areas like Central Queensland, Mackay-Isaac-Whitsunday, and Darling Downs-Maranoa “further declines in house values are expected before a recovery”.

“For Mackay-Isaac-Whitsunday, house values are expected to decline 4.8 per cent for 2018. However, as incomes stabilise and unemployment improves, the market could see a 1.7 per cent recovery in 2019,” the report said.

BRISBANE APARTMENT GROWTH FORECASTS (%)

2018 0.8 2019 6.5 Greater Brisbane

2018 3.3 2019 3.5 Brisbane — East

2018 0.3 2019 6.9 Brisbane — North

2018 1.3 2019 3.5 Brisbane — South

2018 0.9 2019 5.3 Brisbane — West

2018 -0.3 2019 6.1 Brisbane Inner City

2018 2 2019 8.1 Ipswich

2018 1 2019 8 Logan — Beaudesert

2018 1.6 2019 8.7 Moreton Bay — North

2018 -0.1 2019 5.9 Moreton Bay — South

(Source: CoreLogic-Moody’s Analytics Australian Home Value Index Forecast)

Source: www.news.com.au

Continue Reading

Make your Super Work

smsf property investment smsf borrowing

Positive Cashflow

duplex designs, dual occupancy homes

Investment Property Advice

investment property calculator successin property

Trending