“This last month, demand for luxury stock really increased … in the past week we’ve had three records with one home in Ascot being rented out for $2700 per week … and then two luxury apartments for $2400 and $2700, which, in Brisbane, is pretty big money,” she said.
“But we are heading in the direction of a rental crisis like the Gold Coast and the Sunshine Coast because we have no supply and the government has relied on private investors, and it hasn’t done anything to bring low or moderate housing to the market.”
According to the Domain report, Capalaba house rent prices also underwent one of the biggest quarterly rises, with the median weekly asking rent jumping 4.4 per cent to $470.
It’s a figure that comes as no surprise to Ray White Alexandra Hills property manager Susie Bowers, who said renters were flocking to that region in their droves, driven by the suburb’s geographical sweet spot between the Gold Coast, the Sunshine Coast and Brisbane City.
“A lot of them are turning up to the first open home with an application form already filled out … and they are often offering $50 more a week,” Ms Bowers said.
“It’s been like this for most of this year, but the past three months were even more intense … we’ve also got a lot of interstate renters snapping up houses sight unseen.
“I feel like it will get to a point where it eases, but stock right now is really tight, and people just aren’t moving around as much.”
In the Greater Brisbane area, Strathpine units collected the highest quarterly rise of 9.4 per cent, sending weekly asking rent prices from $320 to $350.
Article Source: www.domain.com.au