The report by the National Housing Finance and Investment Corporation (NHFIC) shows that most Queenslanders experiencing rental stress are in Brisbane following rental market increases of more than 30%.
“Approximately 39,700 Brisbane households face acute rental stress or homelessness, slightly more than the rest of Queensland where 33,600 households are in rental stress,” NHFIC head of research Hugh Hartigan told a recent property industry event, reports news.com.au.
He also said South East Queensland has experienced some of the widest spread increases in rents, with 12 local government areas seeing jumps of more than 30% from pre-pandemic levels.
These include the City of Brisbane, City of Gold Coast, Somerset Region, Sunshine Coast Region, Moreton Bay Region, Redland City, Logan City, Shire of Noosa, Scenic Rim Region, City of Ipswich, Lockyer Valley Region, Toowoomba Region.
So is there any relief in sight for renters?
There could be some softening on the horizon as the number of people moving to Queensland from other states starts to slow. This was one of the biggest drivers of rental increases.
“The strong net interstate migration experienced in Queensland during Covid appears to be easing and this may slow the pace of rental growth in coming years,” he said.
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