Unexpected Queensland Rental Hotspots Revealed

  • By Peter Gordon
  • •
  • 07 Feb, 2022

An interesting article on Queensland's low housing supply levels due to the incredibly high interstate and intrastate migration happening at the moment. 

Queensland has the tightest rental markets in the country with just 0.1 per cent availability in some areas, but it is not the beaches or relatively affordable city locations locking in tenants.

The hottest places to rent in Queensland were between the Sunshine Coast and Bundaberg, according to the REIQ’s Residential Vacancy Report.

Vacancy rates hovered just above zero in Maryborough last year with neighbouring Gympie hitting 0.3 per cent and Bundaberg at 0.4 per cent.

This compared to Brisbane’s inner city at 2.3 per cent, middle at 1.3 per cent and outer area at 0.8 per cent.

Queensland coastal tourism centres faired better than the capital, including Sunshine Coast (0.5pc), Caloundra Coast (0.6pc), Gold Coast (0.6pc), Fraser Coast (0.6pc), and Noosa (0.8pc).

REIQ chief executive Antonia Mercorella said their expectation was 2022 would bring the need for more housing as the population continued to rise and international borders opened, keeping competition for rental stock high.

“Regional areas growing due to new employment prospects but these areas need to find housing solutions to take advantage of the economic boost a rising population could deliver,” Mercorella said.

“For example, Maryborough’s train manufacturing contract is set to support up to 800 jobs over the next decade, but with vacancy sitting at 0.1 per cent, where these workers will live is puzzling.

“Queensland needs additional housing supply to ease these tight conditions and accommodate the masses relocating to the state, and this supply simply can’t come soon enough.”

Mercorella said she could not remember a time when tight vacancy rates were so consistently and drastically low across Queensland, saying the pandemic was responsible for the unusual circumstances.

“We’re experiencing the perfect storm of low housing supply levels, incredibly high interstate and intrastate migration particularly to our regions, longer length tenancies as tenants choose to stay put for greater security and certainty, and less shared tenancies as people want more space now they’re working from home,” she said.

“A rental market as extraordinarily tight as this presents challenges to local economies and to the communities.

“We acknowledge that while current market conditions are favourable from an investor’s perspective, no one wants to see people struggling to find a place to live, forced into unsuitable housing or living unsustainably outside of their means.”

Article courtesy The Urban Developer 27/1/22

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Introducing The Palms Estate, Cairns - The Northern Beach's Premier Address

By Peter Gordon • April 26, 2023

Quiet simply, the Palms is the place to buy!

The northern beaches of Cairns is the Nation's best location for property investors right now, and The Palms is the premier development in this boom region.

It has the best location being elevated and backing onto the rainforest. It will have amazing facilities with a shopping village, a primary school, parks and green open space, a water park and an expanse of wildlife corridors.

It has taken the developers three years to get planning approval for this unique development to be able to hit the market. There are only 300 lots spread across 85 acres of the best land in The Northern Beaches.  Residents will have an abundance of open space right at their doorstep.  The Palms is also the only Certified Enviro Development project in Far North Queensland.

> Cairns Snapshot

In the rivalry between Sydney and Melbourne, the winner is ... Brisbane

By Peter Gordon • April 20, 2023

Sydneysiders and Melburnians, put aside your equally outstanding flat whites for a moment. Stop bickering about whether great beaches beat cool laneways (they do) and desist from debating whether all baristas require waxed moustaches (ideally).

Because Brisbane is closing in on the title of Australia’s best city, and we must join forces to keep this subtropical upstart in its place.

Time  magazine recently named Brisvegas on its “World’s Greatest Places” list, and omitted our cities. It’s a huge shock (and who knew they still published Time  magazine?). But they might be onto something.

Time  points to the 2032 Olympic and Paralympic Games, which will be hosted in the maroon metropolis. Brisbane will do a fine job, even though it’ll baffle the world when rugby league is added to the schedule and Queensland is allowed to field its own team.

Time’s  most radical claim is that Brisbane is worth visiting now, but tourism is surging. Not only did Lin-Manuel Miranda recently drop in to catch Hamilton , but hundreds of Hamilfans flew up to watch his interview with Leigh Sales (presumably unaware that it would subsequently arrive on iView for free).

Incredible Lifestyle At An Affordable Price  Equity of approx $390K on completion

By Peter Gordon • April 6, 2023
This small duplex development just a short drive from Hervey Bay on Queensland’s beautiful Fraser Coast, offers an incredible lifestyle at an affordable price. With unprecedented demand and very limited supply, prices look set to skyrocket.

A leading local agent has appraised each side of these duplex's to be worth $665k on completion and rent for $495 per week. So that is massive potentail instant equity of up to $390K on completion, which is incredibly hard to find.
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