Brisbane vacancy rates are falling and are currently at their lowest level since late 2013. So, we ask: given the market is tightening, what can you expect to pay when looking for your ideal rental property in Brisbane?
Data released by SQM Research in October 2018 revealed that Brisbane's vacancy rate has fallen from 3.4% to 2.7% over the last 12 months since October 2017. Correspondingly, weekly rents across Brisbane have seen a modest rise of 1.9% for units and 2.7% for houses over the same period. It is to be expected that weekly rents may rise slightly in the January to March quarter (as this is traditionally the busiest time of year for the rental market) and the overall rise would seem to indicate that Brisbane may be entering a rental growth stage. It is still early days, however, and the overall increases are still modest, but we expect this trend to continue if vacancy rates stay low and interstate and international migration remains at current levels.
So what can you currently expect to pay per week for a rental property in some popular suburbs close to the Brisbane CBD? This will of course, depend on the exact age, size, location, style of property and other features such as e.g. pool, views, new build and so forth. There is no 'one size fits all' in the rental market. However, some indication of possible rental prices are listed below.
One bedroom fully furnished unit, modern and renovated - Spring Hill, Fortitude Valley, CBD - $430-500pw
Two bedroom unfurnished unit, modern and renovated - New Farm and Teneriffe - $540-$600pw
Three bedroom unfurnished unit, modern and renovated - Bulimba - $650-$750pw
Four bedroom family home, modern and renovated - Ashgrove - $850-$1,200pw
Three bedroom, partly renovated home - Mansfield / Carindale - $500-$570pw
Four bedroom, contemporary property with pool - New Farm - $1,200+pw
Contact Habitat Relocations today to help you with your move to Brisbane and find your new place to call home.