The rental vacancy rate on the Gold Coast has held steady in the first quarter of the year, according to data released today by the Real Estate Institute of Queensland.
In the Q1 2018 Vacancy Rate report, REIQ found the Gold Coast vacancy rate was 1.1 per cent – the same as last quarter.
While data shows rental vacancy rates are generally improving across Queensland, REIQ CEO Antonia Mercorella said the Gold Coast remains uncomfortably tight.
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“We would like to see more investors enter those markets, however APRA’s tightened lending criteria is not encouraging investors to consider property. The result is tight markets remain tight, despite good opportunities for landlords,” she said.
As the Gold Coast market was measured in the lead-up to the Commonwealth Games, REIQ indicated the city could see some change in vacancy rates in the next two to three quarters as visitors leave the region.
Ms Mercorella also said vacancy rates may change early next year when the Athletes Village is redeveloped into a Health and Knowledge Precinct with more than 1100 apartments.
“Our hope is that these units will find investor buyers and this could contribute to easing the tight rental conditions in this beautiful part of the world,” she said.