Rental Market Softens slightly
Your peace of mind is our priority – that’s the Property Minders promise. This is no empty catch phrase. It underlies how we do business with our clients everyday. We don’t want them worrying about their properties. That’s our job. We don’t want them chasing us for information, for updates on how a vacant property is faring, for how a delinquent tenant is progressing, for how their maintenance is progressing. We promise to proactively provide them with that information.
We understand that bad news doesn’t get better with bottling. We would prefer to get the hard bits out there in the open and discuss them with our clients frankly. Today’s market is a case in point. Despite our best efforts, in some areas we have found that the market has slowed and we are unable to achieve the high rentals of 12 months ago. The following table shows a comparison of the first 2 quarters of the years over the past 3 years. This data is drawn from the Residential Tenancies Authority bond collection data – from actual bonds lodged.
TWO BEDROOM UNITS
| Locality | Mar-08 Rent PW | Jun-08 Rent PW | Mar-09 Rent PW | Jun-09 Rent PW | Mar-10 Rent PW | Jun-10 Rent PW |
| Brisbane City | $320 | $340 | $360 | $350 | $365 | $360 |
| Bayside | $275 | $275 | $290 | $290 | $300 | $295 |
| City Inner | $385 | $420 | $420 | $440 | $430 | $450 |
| North - Inner | $290 | $300 | $320 | $310 | $325 | $325 |
| North - Outer | $280 | $285 | $310 | $310 | $320 | $320 |
| North West - Inner | $300 | $345 | $325 | $335 | $360 | $340 |
| North West - Outer | $260 | $270 | $300 | $320 | $320 | $300 |
| South - Inner | $280 | $300 | $310 | $310 | $320 | $320 |
| South - Outer | $260 | $290 | $320 | $300 | $360 | $295 |
| South East - Inner | $300 | $310 | $330 | $330 | $330 | $340 |
| South East - Outer | $250 | n.a. | $350 | $280 | $340 | $310 |
| South West - Inner | $300 | $310 | $350 | $350 | $350 | $340 |
| South West - Outer | $275 | $290 | $300 | $172 | $310 | $265 |
THREE BEDROOM HOUSES
| Locality | Mar-08 Rent PW | Jun-08 Rent PW | Mar-09 Rent PW | Jun-09 Rent PW | Mar-10 Rent PW | Jun-10 Rent PW |
| Brisbane City | $350 | $350 | $370 | $370 | $380 | $380 |
| Bayside | $350 | $350 | $365 | $360 | $370 | $375 |
| City Inner | $410 | $430 | $450 | $460 | $465 | $460 |
| North - Inner | $380 | $380 | $400 | $390 | $400 | $400 |
| North - Outer | $325 | $340 | $350 | $350 | $360 | $355 |
| North West - Inner | $400 | $400 | $430 | $425 | $445 | $450 |
| North West - Outer | $340 | $345 | $360 | $360 | $375 | $365 |
| South - Inner | $350 | $360 | $375 | $380 | $380 | $380 |
| South - Outer | $320 | $330 | $350 | $350 | $350 | $350 |
| South East - Inner | $380 | $380 | $400 | $400 | $400 | $410 |
| South East - Outer | $350 | $365 | $365 | $380 | $380 | $380 |
| South West - Inner | $360 | $365 | $390 | $380 | $400 | $380 |
| South West - Outer | $310 | $320 | $330 | $330 | $340 | $340 |
Source: Residential Tenancies Authority (Qld)
In most areas there has been steady growth but a few show the softening in the market that we have felt over the past few months. Regardless of where a property sits in relation to the median, it should move consistently with the market. We keep our clients informed and keep their rents up with the current market.
We welcome your enquiry at any time. If you have questions regarding management of your property, regardless of whether we look after it for you, please do not hesitate to contact me – Jan Grant on 0433 444 104 or jan@propertyminders.com.au at anytime.
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