Demand Increases for Gold Coast Rental Properties
At a time when the rental market is struggling in various parts of the country, demand for Gold Coast property is increasing.
This is according to the latest figures from the Real Estate Institute of Queensland (REIQ), which found that a vacancy rate of 2.5 per cent was recorded in the area at the end of March.
The group revealed that rental conditions are continuing to tighten in the region, as more people hope to move into Gold Coast rental properties.
Various factors have played a part in this trend, the REIQ revealed, including an improvement in employment conditions that will no doubt encourage people to think about relocating.
As the group explained, a vacancy rate of three per cent is generally considered to be the perfect balance between the supply and demand when it comes to properties for rent.
Historic figures for the Gold Coast show that in December last year, the vacancy rate stood at 2.7 per cent, falling from 3.9 per cent in March 2012.
This illustrates that demand is rising for houses for rent in the Gold Coast, giving investors the incentive they need to consider making a purchase in the region.