New vacancy rate data from the REIQ reveals Brisbane and the southeast corner of the state remain steady with healthy-to-tight vacancy rates across all markets.
REIQ CEO Antonia Mercorella said despite low interest rates that have been encouraging people to move out of rented property and into their own purchased home, demand for rental accommodation in the inner city remained strong.
“People are choosing to live where they can be close to entertainment, work and transport and this is reflected in the vacancy rate data. Despite a strong level of supply coming online this year with apartments under construction in the inner ring, we can see that the vacancy rate is 3.0 per cent, and that rate drops to 2.4 per cent in the middle ring of 5km – 20km radius,” she said.
“This information suggests that demand for rental accommodation is keeping pace with supply.”