Your Property Hound is a boutique buyer’s agent service helping investors and home-buyers, purchase residential real estate in Brisbane. As part of the service for investors, we provide a regular Brisbane Rental Market Update to assist clients with their buying decisions.
Brisbane Rental Vacancy Rates
Rental Vacancy Rates are 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 have increased slightly from 2.6% to 2.9% in the month of December. This is clearly a seasonal trend, with December tending to have the highest reported monthly vacancy rate each year – see graph below: (Source SQM Research)
The average rent for residential properties (houses and units combined) in Brisbane is at $431/wk. (Results as of December 31, 2015). This figure is marginally lower (-0.03%) than the previous year. On a national basis, Sydney (1.9%), Melbourne (2.2%), Hobart (0.6%) and Canberra (1.9%) saw weekly rental rates increase in 2015.
Brisbane continues to have the highest gross rental yield in the country for units (5.3%), and remains in the top three Australian capital cities for gross yield for houses (4.2%). (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 below 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 for further information.