Worst Rental Crisis In Decades
  • 11 November 2016

Worst Rental Crisis In Decades

In pleasing signs for landlords in South East Queensland, agents say the Gold Coast rental shortage is the worst they have seen.

gold-coast-city-view

Increasingly desperate tenants are offering tens of thousands of dollars rent in advance as the Gold Coast faces the most severe rental crisis in decades.

Just 0.9 per cent of the city’s stock of properties for rent are available — a record low that is gold for landlords but is pushing prospective tenants into increasingly desperate tactics to secure a place to live.

rental crisis

CoreLogic research director Tim Lawless said there was no sign of the Coast’s growth slowing down.

“The Gold Coast housing market has well and truly emerged from the soft conditions that were evident post GFC,” he said.

“Prices and buyer demand have generally been trending higher since 2012.”

CoreLogic data shows Gold Coast houses had a stronger overall rate of price appreciation, with the median house price up 5.5 per cent over the past 12 months and 16 per cent over the past five years, compared with the unit market where prices were 4.1 per cent higher over both the past 12 months and five years.

Mr Lawless said the most strategic places to invest on the Coast were close to the water and working nodes.

“Investment locations tend to be synonymous with scarcity and ongoing demand,” he said.

“Locations close major rental and working nodes are generally in high demand, however buyers should also examine how much unit supply can be introduced within proximity.”

gold-coast-aerial-view

The 200 hectare Gold Coast Health and Knowledge Precinct (GCHKP) is a rapidly growing vibrant community where people can live, learn, work and grow.

The knowledge hub is already home to the new state-of-the-art Gold Coast University Hospital and world-class Griffith University.

As hosts of the 2018 Commonwealth Games the Gold Coast is establishing the $550 million Games Village through private developer Grocon within the precinct. This will act as a catalyst for bringing together stakeholders within the precinct through the legacy of a permanent mixed-use residential community with more than 1200 dwellings.

Are Property Club member more successful than the rest?. . . yes!!

Property Club members have continued to benefit from our extensive Research and more, with 5,000+ members in our Millionaires Club!

pmc-travel-20160730

Property Club members are having a lot of success with Club research assisting them to acquire a residential property portfolio, that will give them more choices in retirement!

What Our Parents Didn't Know

Make sure you contact your Property Mentor to assist you to catch the wave as well!

Have a great weekend and catch you next week!

Warm Regards,

Troy Gunasekera National Manager

Related Posts

New Queensland Rental Regulations: What Property Investors Need to Know

New Queensland Rental Regulations: What Property Investors Need to Know

The Queensland rental market is set for a significant shake-up, and as a property investor, it’s crucial to stay ahead of the curve. The state's new minimum housing standards, which began taking effect in September 2023, are more than just a regulatory update—they represent a shift in the expectations tenants will...

Who’s Responsible for Mould in Your Rental Property: Tenant or Landlord?

Who’s Responsible for Mould in Your Rental Property: Tenant or Landlord?

Mould, it’s the unwelcome guest no one wants in their home. It’s unsightly, potentially hazardous to your health, and dealing with it can be a real headache. But when mould creeps into a rental property, the big question arises: Who’s responsible for cleaning it up, the tenant or the landlord? The answer isn’t...

Unlocking Your Mortgage Potential: Finding the Best Fit Between Offset Accounts and Redraw Facilities

Unlocking Your Mortgage Potential: Finding the Best Fit Between Offset Accounts and Redraw Facilities

When managing your mortgage as an Australian property investor, understanding the benefits of offset accounts and redraw facilities can greatly enhance your financial efficiency. Both tools offer strategic ways to reduce the interest you pay and accelerate your mortgage repayment, but they function differently and...

Become a Member Today!

Our mission is to help the average Australian learn the property market dynamics and discover the amazing opportunities that exist in real estate.