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Gold Coast Rentals Have Dropped To A 2.6 Per Cent Vacancy Rate

A year ago Gold Coast rental properties were in oversupply at 4 per cent, but according to a recent REIQ rental survey, vacancy rates of Gold Coast rentals in June 2013 had decreased to 2.6 per cent.

(Newswire.net – August 26, 2013) Gold Coast QLD Australia – According to rental data supplied by the Real Estate Institute of Queensland (REIQ) the demand for rental properties Gold Coast, and most of Queensland continues to outweigh the supply. 

A vacancy rate of 3 per cent is considered to be an equipoise between supply and demand, however rental vacancy rates throughout most of South East Queensland are remaining under 3 per cent and in many cases lower. 

At the other end of the scale in June it was also reported that some of Queensland’s mining regions were showing signs of oversupply at 4.6 per cent and 6.6 per cent.

According to REIQ CEO Anton Kardash, “With the exception of Brisbane which remains at 2.1 per cent – a level that is indicative of more demand than supply – vacancy rates are trending lower in all other major regions of the southeast.”

Despite low supplies, competition for rental properties has increased and is attracting more buyers, with investor activity up by an estimated 14.9 per cent. 5121 properties were financed in May 2013 compared to May 2012, according to data supplied by the Australian Bureau of Statistics.

House prices in Queensland are predicted to rise by 3.6% and 2.2% respectively over the next two years, due to migration, state economic and rental growth. The Queensland rental market will remain tight in the face of this growing demand which will continue to force rental prices upwards.The number of investors has increased by almost 20% compared to last month’s percentage.

gold coast rentals

Mr. Kardash also said, “When you also consider the underlying dollar value of loans to Queensland investors captured by the ABS, it clearly shows that investment activity is at its highest level since June 2009.”

Queensland’s Gold Coast is now the sixth largest city in Australia with a population of over 540 million with a catchment area of almost three million.

For investors seeking rental properties, Gold Coast city’s population driven economic growth is still providing a great opportunity for rental property investments.

Wealthy Chinese investors have already spent hundreds of millions of dollars on luxury apartments and high rise projects such as The Hilton and Soul in Surfers Paradise, The Oracle at Broadbeach, and the Palazzo Versace at Main Beach. 

Rentals Gold Coast – The Future Investment Hotspots.

Parkwood, Molendinar and Arundel may not be the flashiest suburbs but have been named in a national housing report as future investment hot spots after agents reported a shortage of quality properties in these particular areas.

For more information about Gold Coast rentals please visit this website.

Gold Coast Rentals Have Dropped To A 2.6 Per Cent Vacancy Rate
2.6% Vacancy For Gold Coast Rental Properties

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