“Gold Coast vacancy rates have been operating at less than 2.5 per cent for more than two years and this is clear evidence that there is continuing strong rental demand,” REIQ CEO Antonia Mercorella said.
“The Sunshine Coast has had tight conditions for more than four years and rental accommodation can be very challenging to find – this area could support new dwelling construction,” Ms Mercorella said.
The REIQ data also challenged the widespread perception of a glut in Brisbane inner city units with CBD vacancy rates dropping from 3.1 per cent to 3.0 per cent over the March quarter.
“The inner 5km ring is at 3.3 per cent and the middle ring is at 2.5 per cent – these levels continue to fall within what the REIQ considers the healthy range,” Ms Mercorella said.
“We are clearly not oversupplied – at this stage.”
With vacancy rates tight, Ms Mercorella said it was important to keep investors in the market to keep rental accommodation affordable.
“With the national debate focused on negative gearing it’s important to remember that negative gearing has been critical in maintaining a supply of investors to the market who provide rental accommodation, and this has also helped keep rent levels in check,” she said.
View the full REIQ Vacancy Rate Report here >
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