Rental market tightens across Brisbane but vacancy rate remains higher than national average

first_imgAlthough the vacancy rate has tightened, house renters have not been hit by higher rents.In Brisbane asking rents for houses fell over the month by -0.3 per cent to $446.40 and unit asking rents increased by 0.4 per cent to $367.80. DEVELOPER BIDS AND WINS ON OLDER BRISBANE FAMILY HOME The national vacancy rate is currently 2.1 per cent.More from newsParks and wildlife the new lust-haves post coronavirus19 hours agoNoosa’s best beachfront penthouse is about to hit the market19 hours agoThe Tasmanian capital continues to have the tightest rental market, with a vacancy rate of 0.7 per cent. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE Although there are just 219 vacant rental properties on the market in Hobart, managing director of SQM Research Louis Christopher said the situation had improved for renters in the city with the vacany rate jumping from 0.6 per cent the month before. YOUNG COUPLE SNAPS UP RIVERFRONT APARTMENT WITH RECORD BREAKING BID “While vacancies remain tight, this is the sixth straight month of vacancy increases, signalling that the worse now could be over for Hobart tenants,” Mr Christopher said. The vacany rate has tightened across Brisbane according to new data from SQM Research.THE number of empty rental properties in Brisbane dropped below 10,000 as the vacancy rate continues to drop across the Queensland capital.It was good news for real estate investors as data released today from SQM Research showed the vacancy rate falling from 3.2 per cent to 3 per cent from March to April.Brisbane still has the highest vacancy rate of any east coast capital city, and it is still higher than the national average of 2.1 per cent.Currently there are 9774 vacant rental properties across Brisbane.Across the nation, the only capital cities with higher vacancy rates are Darwin on 3.3 per cent and Perth on 4.1 per cent. center_img The Tasmanian capital is still a very tough market for renters. Picture: NIKKI DAVIS-JONES BRONCOS STAR SELLS BRISBANE HOME Asking rents for houses in capital cities fell over the month by 1.6 per cent to an average of $554 a week, while asking rents for units increased by 0.5 per cent to $445 a week.last_img read more