Written by Bruce Goddard, Place Projects
Place Advisory has analysed the rental performance of all suburbs located within five kilometres from the Brisbane CBD over the past 12 month period. We will discuss how Inner Brisbane’s rental market performed throughout 2016 and what Place Advisory expects to see in 2017.
The most recent REIQ data indicates that vacancy rates in Inner Brisbane have increased to 3.7% for the September 2016 quarter. Despite being slightly higher in comparison to previous quarters, this equates to properties being vacant for just two weeks of the year.
Percentage Change in Rental Values by Precinct: Past 12 Months. Source: Residential Tenancies Authority
Place Advisory expects that Inner Brisbane’s rental market will remain relatively strong throughout 2017, particularly for new apartments. Tenants are seeking well appointed apartments in high amenity locations with direct access to infrastructure. Although tenants are spoiled for choice, apartments are not sitting on the market for as long as expected.