Longest period of stability in Brisbane's rental history: Domain

Longest period of stability in Brisbane's rental history: Domain
Longest period of stability in Brisbane's rental history: Domain

In Brisbane, median weekly house rents remained stable over the September quarter and year at $400 per week, according to the latest rental report from Domain.

Unit rents increased marginally by 1.4% over the quarter and year to reach $375 per week.

The report found that Brisbane provided the third strongest gross rental yields for houses and fourth for units compared to all other Australian capital cities.

House gross rental yields improved by 0.6% over the quarter to 4.62% despite an annual decline of 0.6%.

Unit gross rental yields increased by 0.7% from the June quarter and 3.9% annually to 5.12% - the strongest annual increase in more than six years.

Longest period of stability in Brisbane's rental history: Domain

Domain Senior Research Analyst, Dr Nicola Powell said:

"Apart from a couple of fluctuations, tenants in the sunshine state have enjoyed four years of steady house rents at $400 a week - this is the longest period of stability in Brisbane’s rental history.

"The unit market appears to have had a minor turnaround, with rents increasing for the first time in two years.

"Brisbane’s advertised rental stock slipped as a result of the unprecedented inner-city unit development slowing.

"The state experienced a decade high level of internal migration, with Brisbane becoming one of Australia’s fastest growing city populations.

"All signs point to a broad tightening of the rental market.

"We may also see Sydney and Melbourne investors, dissatisfied with falling property prices, looking north for better yields and growth prospects, as well as seeking lower entry-prices and holding costs."

Tags: 
Brisbane Rental market

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