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Data shown by the Residential Tenancies Authority (RTA) reveals an average decline in weekly median rent rates of $10 over the period March to June 2016. The median weekly rent data is derived from the quarterly rental bonds logged, per property type and suburb.
House and units are similarly affected, although some suburbs are further impacted by oversupply of stock with the development of new estates and apartment complexes. The result creates a renter’s choice market with reduced rent prices, which will ultimately bounce back over a period of time – albeit patiently.
The outer and inner northern suburbs and the southern and western suburbs, have felt the most impact. Some data showed rents decreasing between $20 -$50 in median rental prices. On the bright side some suburbs within the inner north and inner city, are maintaining rates at a minimum to experiencing marginal increases of $5 and as high as $20. HomeRentals Queensland is satisfied that the majority of lease renewal rent prices, across the impacted suburbs, were maintained.
CoreLogic’s September review, based on the July 2016, Housing finance data released by the Australian Bureau of Statistics reported that even though some current gross rental prices have a low yield, investment in property is still increasing. When calculating capitol growth with rental returns, the overall investment return is still greater than fixed term deposits and other safe asset options.
|The analysts conclude, that going forward the challenge for property managers and investors will be to reduce vacancy rates by maintaining solid tenancies, and at the least to uphold existing rent rates.|
HomeRentals Queensland delivers far more value than peace of mind to your investment doorstep!