Rental stress soars as number of properties on Gold Coast remains low

Renters are still facing a tough time finding a rental home on the Gold Coast with the number of available properties still low.

It comes as the Real Estate Institute of Queensland concedes its figures showing a huge spike in available properties in the December quarter were way off the mark.

REIQ initially reported the Gold Coast’s rental vacancy rate had soared from 1.7% to 4.8% in the last three months of 2018.


It now admits the vacancy rate actually went down to 1.6%.

REIQ says it inadvertently included non-residential data in the survey results and mistook a segment of data as being from one provider when it was from another.

The vacancy rate has edged up slightly in the first three months of this year to 1.8% meaning the market remains extremely tight.

There’s even more bad news for renters with parts of the Gold Coast among the worst in the country for rental stress.

Figures from the University of New South Wales show 40% of renters in the Federal electorate of Moncrieff are struggling with houses they can’t afford.

It’s the second highest number in Queensland, while the figure in the electorate of McPherson is not far behind at 39%

Fiona Caniglia from Q Shelter says Queensland has 8 of the 20 electorates in the country with the highest proportion of renters in rental stress and is calling on the major political parties to address the issue.

“Throughout this Federal Election campaign, candidates have talked a lot about tackling cost of living pressures.” Ms Caniglia said.

“If candidates are serious about addressing cost of living, then they have to answer what they are going to do to address chronic rental stress including regional Queensland.

“We’re calling on all candidates to commit to real measures that will boost the supply of social and affordable housing and reduce the unacceptably high level of rental stress across the state.”