Powered by MOMENTUM MEDIA
subscribe to our newsletter

Regional Queensland rental market shows ‘promising signs’

New data has revealed improving conditions in regional Queensland property, which according to the Real Estate Institute of Queensland shows the area is “nurturing green shoots of recovery”.

According to March quarter vacancy rate results from the REIQ, regional Queensland’s rental market is showing “promising signs”.

REIQ CEO Antonia Mercorella explained: “Improving key economic indicators, including the stronger price of coking coal, and the lower Aussie dollar boosting tourism numbers, are clearly giving regional Queenslanders cause for optimism. 

“The housing market in regional Queensland is closely tied to these two industries and we can see that workers are being attracted back to these cities with the tightening of vacancy rate figures.”

Gladstone posted the strongest performance in the March quarter data, falling 3.5 percentage points to 6.4 per cent, its lowest vacancy rate since June quarter 2015.

Advertisement
Advertisement

Mackay also improved, falling 1.5 percentage points from 7.9 per cent to 6.4 per cent, its lowest level since September 2013.

Townsville fell 0.2 percentage points to 6.2 per cent, the lowest vacancy rate since March 2016.

Toowoomba held steady, moving from 2.8 per cent to 2.9 per cent.

Rockhampton and Bundaberg increased between 0.8 and 4.3 percentage points in both markets.

The REIQ said the south-east corner remains the strongest performer in the Queensland housing market, with vacancies remaining tight in both the Sunshine and Gold Coasts.

PROMOTED CONTENT


Pine Rivers at Moreton Bay is the tightest rental market in the state, at 1.3 per cent.

[Related: Regional Australia records ‘significant’ house price growth]

Regional Queensland rental market shows ‘promising signs’
mortgagebusiness

Latest News

The RBA has studied the role of collateral in credit markets under stress, and has found that collateralised borrowing rose for some segment...

Auction volumes surged significantly over the December quarter across Australia, largely attributed to a “resurgence” in Melbourne, acco...

Loan conditions and collateral guarantees continue to be major stumbling blocks for small businesses looking to access financing, according ...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: A new record in mortgage approvals

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.