Three key points regarding the Brisbane market:
- Higher demand but fewer quality tenants
The rental market is as competitive as ever, but there’s a noticeable drop in tenant quality in Brisbane when compared to previous years. Many good tenants are staying put due to the tough market – which means that landlords with long-term tenants are choosing to offer discounts to keep them rather than risk going back to the open market.
- Higher-cost tenancy brackets are shrinking
While properties under $800 a week are still renting out quickly, the higher-end market is facing more challenges at the moment. Properties over $1,000 a week are especially harder to fill, due to the rising cost of living having an effect on tenants’ ability to afford these higher rents.
- The importance of adaptation
Flexibility and a canny understanding of current market conditions are key for landlords. Offering competitive rates to retain good tenants or adjusting rental expectations for higher-end properties can help you navigate current conditions more smoothly.
Want more insights on the Brisbane rental market to help keep you in the know? Contact CPC Properties today for up-to-date advice on making the right choices.