Take advantage of Brisbane’s low vacancy rates
Brisbane’s rental market is experiencing a perfect storm of low housing supply, strong interstate migration and renters requesting longer tenancies.
This spells good news for buyers looking to crack the investment market, as these factors make for great rental returns for landlords.
Where is the demand?
The Real Estate Institute of Queensland (REIQ) has released its December 2021 Residential Vacancy Report, revealing that vacancy rates are as low as 0.1 per cent in Maryborough and 0.3 per cent in Gympie.
While Queensland’s regions are experiencing critically low levels of rental stock, demand for rentals within Brisbane and other metropolitan areas also remains high.
At the beginning of the pandemic when more people were working remotely and not having to commute regularly to their office, vacancy rates within Brisbane’s inner-ring (0-5km from the CBD) soared to almost 5 per cent.
Almost a year after recording such weak vacancy rates, Brisbane’s inner-city market has bounced back – tightening to a healthy 2.3 per cent.
REIQ CEO Antonia Mercorella said the demand for rental properties will not dampen any time soon, with the peak body predicting 2022 will bring more of the same competition within Queensland’s rental market.
“Demand for rental properties in Queensland will continue to rise along with the rising population and that growing population needs a roof over its head,” Ms Mercorella said.
“With international borders opening, over time we’ll see returning numbers of international students, migrants, and holidaymakers, and this too will add to the strain on rental accommodation.”
Rents are rising, with no signs of slowing down
In more welcomed news for investors, national asking rents have increased by 0.7% to $560 per week for houses, and by 1.9% to $424 per week for apartments.
Simon Pressley, Propertyology’s Head of Research said the rent increase is due to Australia’s current under supply of rental accommodation, which in his opinion is “easily the worst ever experienced in Australia’s history.
Because of this undersupply, Mr Pressley has forecasted that advertised rent prices could rise by $5,000 or more in 59 cities across the country, including Brisbane.
Why choose to invest at Brisbane 1?
Brisbane 1’s luxury apartments offer tenants a haven that feels like their very own. When you purchase an investment property at Brisbane 1, your tenants be able to utilise everything the owner occupiers in the building can access – from lush rooftop terraces, through to a private resident theatre, spas, a sauna, and of course, an opulent 25-metre lagoon pool and well-equipped gymnasium.
Apartments within Brisbane 1 are appealing to returning international students and migrants due to their proximity to universities, the CBD and Brisbane’s cultural and entertainment precinct.
At Brisbane 1, there’s also opportunities to double your income by purchasing a dual-key apartment.
A dual key apartment is divided into two dwellings but unlike a duplex, the additional studio is located inside the apartment – meaning they share a main entry with their own separate front doors. This means that when you purchase a dual key apartment, you can collect two rental incomes without having to purchase two separate properties. This is a big win for those looking to make the most out of an investment property, as you’ll also only have to pay strata fees for one property.
Our sales team are equipped to help investors with any questions they may have about purchasing a rental property at Brisbane 1. To find out more about Brisbane 1, or to secure your dream investment property, contact our team on 1300 692 666 or complete the contact form here.