Vacancy rates reflect the percentage of rental properties without a tenant. The REIQ says a “just right” Goldilocks vacancy rate lies between 2.5 to 3.5 per cent. Any tighter and tenants feel the pinch, while higher rates leave landlords out of pocket.
The latest data shows Brisbane’s inner, middle and broader markets all sit in the sweet spot reports realestate.com.au.
Check out our June quarter vacancy rates:
- The Brisbane local government area vacancy rate fell from 3.7 per cent in the March quarter to 3.3 per cent in the June quarter.
- The inner Brisbane rental market vacancy rate fell from a record high of 4.4 per cent to 3.5 per cent.
- The middle ring remained stable at 3.1 per cent.
The data is good news for observers of the inner city market unit supply, says REIQ CEO Antonia Mercorella.
“At 3.5 per cent, the REIQ classifies this market as healthy and this is when both tenants and landlords have reasonable expectations of their needs being met. We know that the population growth and jobs in the southeast corner are, so far, sufficient to absorb the level of apartment supply coming onto the rental market,” she said.
Think the market is right to make your next move? Check our listings for rent or talk to us about landlording.