And it’s not just Brissie that’s seen a slow down.
The latest Domain Rental Report found the pace of rental growth had slowed across all capital cities.
“Australia’s era of explosive rental growth appears to be nearing its end. After enduring the steepest and longest rental surge in history, all capital cities have passed their peak in growth rates and are now decelerating rapidly, with some cities already in decline,” Domain reports.
“For the first time in nine months, quarterly rental growth for both houses and units has stalled across the combined capitals, marking the weakest September quarter since 2019 for houses and since 2020 for units.”
Specifically, Brissie house rents dropped -0.8 per cent in the quarter to September but remain 5.9 per cent higher than they were a year ago.
Brissie unit rents dropped -1.7 per cent but remain 7.3 per cent higher than they were a year ago.
That’s great news for tenants while landlords are still enjoying solid yields compared to other capitals.
Brisbane house yields are now 3.9 per cent, which is above the combined capital city yield of 3.71 per cent.
Unit yields are 4.99 per cent, which is above the combined capital city yield of 4.91 per cent.
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