Brisbane Rental Market Update – April 2016
Your Property Hound is a boutique buyer’s agent service helping investors to purchase residential real estate in Brisbane. As part of the service for investors, we provide a regular Brisbane Rental Market Update so that clients can make informed buying decisions.
Brisbane Rental Yields
Rental yield is an important indicator of the supply and demand for property. A balanced rental market has a vacancy rate of around 3%.
Brisbane rental vacancy rates appear to have leveled for the month of March. (A vacancy rate of 2.6% is equivalent to 8,174 dwellings). Over the last 12 months, Brisbane’s vacancy rate has increased slightly from 2.2%. (Source SQM Research)
Over the last 12 months the average rent for houses in Brisbane was $445 per week which is marginally lower (-0.01%) than the previous month and is down 0.7% over 12 months. Asking rent for units was $372per week, an increase of 0.3% for the month and a 2.3% increase over 12 months. (Source: SQM Research)
On a national basis, Sydney and Melbourne have recorded the greatest increases in weekly rents. Over the same time period rents in Brisbane, Adelaide, Perth and Darwin have fallen, while rents in Hobart are unchanged. (source CoreLogic)
Brisbane: Rental yields vs property type
In Brisbane, units tend achieve the highest rental return for investors. Units with 2 bedrooms tend to perform better than 3 bedroom units.
When looking at houses, those with 3 bedrooms provide the best yields. (see graph courtesy of SQM Research)
Your Property Hound is a Brisbane based buyer’s agent. We are active in the local market and have the knowledge to assist you in buying property suited to your needs. Please contact us or visit our website for further information.