Which State's Rental Vacancies Have Tightened For The Fifth Straight Month?

Exciting news through that our largest northernmost city - Brisbane - has had rental vacancies plummet for the fifth month in a row now!

News.com.au reported that Tenants are fleeing Sydney for Brisbane showing that the latest figures from property valuation firm SQM Research reveal rental vacancies in Brisbane fell to 2.9 per cent in July — down from 3 per cent in June — marking the fifth straight monthly decline this year.

This is positive news, as there are an estimated 9886 residential rentals are sitting vacant in Brisbane, compared with nearly 20,000 in Sydney.

Sydney’s vacancy rate is now the highest in 13 years, with 2.8 per cent of the city’s units and houses unoccupied, yet the asking rent for a three-bedroom house in the city is still the highest in the country at $707 a week.

Also, realestate.com.au chief economist Nerida Conisbee said the online portal had recorded a 12 per cent rise in demand for rental properties in Brisbane in the past 12 months.

Demand for houses was up 7.2 per cent and views per apartment listings were 16 per cent higher than a year ago.

All good signs for those of us with properties in and around South East Queensland!

Have a great week and catch you next week!

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Have a great weekend and catch you next week!

Warm Regards,

Troy