It’s now a whole lot easier to find a rental home on the Gold Coast with the number of available properties soaring.
Figures released from the Real Estate Institute of Queensland show the vacancy rate for the Gold Coast has jumped from 1.7 per cent in the September quarter, to 4.8 per cent in the December quarter.
It’s the biggest rise in vacancy across the entire State in that time.
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REIQ says a number of new projects have added hundreds of properties to the rental pool on the Gold Coast.
These include the Smith Collective which alone had more than 1200 properties for rent.
Projects in Broadbeach, Burleigh, Robina, Miami and Varsity Lakes have also recently been completed, adding further choice for those looking for a rental.
Rental vacancies in the Greater Brisbane region tightened slightly from 2.4 per cent to 2.3 per cent.
The rental market in Logan is now considered tight with vacancy falling from 3.5 per cent to 2.4 per cent.
REIQ says with Logan’s population growing by more than 5,000 a year, that’s putting extra pressure on the city’s rental market.
While the Gold Coast numbers are welcome news for renters, we’re being warned it might not last
Experts say there are a number of headwinds in the Queensland rental market which has already seen a slowdown in activity.
REIQ says some areas across south-east Queensland are already reporting falling sales thanks to investor uncertainty, tighter lending by the banks and possible changes to negative gearing if Labor wins the Federal election.