That’s the headline from the latest rental report from Domain, which shows Brisbane’s median weekly rent sits at $475 for houses and $400 for units.
By comparison, this is well below the Gold Coast where houses command a weekly median rent of $520 and units ask for $430.
So our tenants here in Brissie are still sitting pretty.
And a modest increase in 2019 rental prices is also keeping landlords happy – at least those who own houses.
Brisbane house rents increased 3.3 per cent in December 2019 compared to a year earlier, taking five-year growth to 5.6 per cent.
While units remained stable over the year to December 2019 and have recorded a small rise of 2.6 per cent over five years as our CBD has absorbed its fabled unit glut.
Domain economist Trent Wiltshire said the results were a sign the market could be improving for landlords, but tenants still held the upper hand for now.
“The rental market looks like it’s slowly tightening,” he said.
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Brighter
And some
Brissie rents are rising but tenants can still breathe easy
Green shoots of rising rental prices in Brisbane in 2019 are a good sign for landlords, but the relatively small increase means tenants are also still enjoying affordable rental conditions.