Vacancy rates favour property owners in Brisbane

ImageBrisbane property investors may be encouraged by low rental vacancy rates in the region. Image

Those considering property investment in Queensland may be encouraged by recent data from the Real Estate Institute of Queensland (REIQ).

March rental vacancy rates have tightened across the state, revealing increased demand and potentially high returns on residential property investment. 

Brisbane in particular has shown a substantial decrease in the availability of rental accommodation – the vacancy rate dropped from 2.3 to 1.7 per cent since last December.

In Brisbane's inner-city vacancy rates are even less, dropping from 1.9 to 1.4 per cent in the same time period.

With three per cent representing an equilibrium of supply and demand, recent figures illustrate an advantage for real estate owners over tenants – conditions that often prompt a rise in rental prices.

REIQ chief executive officer Anton Kardash explained that many potential property buyers were "sitting on the sidelines" up until very recently due to a period of recovery from the natural disasters of last year.

"However, this pent-up demand is now starting to dissipate with the latest Australian Bureau of Statistics data showing increasing numbers of investors and first-timers coming back into the market," he said.

Brisbane property investment may see a boost in activity following the revelation of these relatively low vacancy rates.

Posted by Tyler Wyndham