Brisbane’s rental market is on fire!
The Brisbane rental market is booming and one of the hottest markets in the country right now.
When the global pandemic reached Aussie shores in March 2020, the Sunshine State's property market took a hit. Borders closed, the tourism market fell in a heap overnight, and interstate and overseas travellers and tourists had no choice but to return home. Predictions were dire.
While most believed the market would crash, almost twelve months later, the opposite is true, and we’ve now entered the ‘perfect real estate storm’. Whether you’re a renter, an investor or someone looking for your forever home, low volumes, low-interest rates and wage growth, diminishing supply and unprecedented interest from interstate buyers have seen the market move into a ‘once in a decade’ boom. Experts are now predicting a 10 per cent rise in Brisbane house prices in 2021 alone.
Lifestyle is now key when searching for the perfect property. Renters are paying well over market rates to get into sought after areas or for homes with work-from-home flexibility and shorter commutes. Families looking for property in the greater Brisbane area face intense competition from both local and interstate renters. Long lines at open for inspections see tenants offering well above asking prices, agreeing to long leases and quick move-in dates to secure their property of choice.
With the year on year rental yield up an average of 3.7 per cent, property investor activity has been intense, particularly in the housing market. Market reporters such as Core Logic and realestate.com.au suggest that the trend towards higher rents is not expected to end any time soon.
If you’ve been considering moving to the Sunny Coast, downsizing or upsizing and have a Brisbane property to rent, give us a call. We can advise you on the demand in your area and the potential return on your investment. If you’ve got a property in need of a little TLC or think you should be earning more rent, chat to us about our Get Rental Ready program, it could make all the difference.
Contact us by email or call us on 07 3394 8253.