More rental properties available in the Gold Coast?
Rental vacancy rates are increasing across the country, which could prove good news for anyone in search of apartments for rent in the Gold Coast.
The latest figures from SQM Research show that more rental properties are vacant in all capital cities throughout Australia, with the exception of Darwin.
On a national basis, vacancies increased by 0.1 per cent, bringing the rate to two per cent in April, the group revealed.
This makes it the first time that national vacancies have reached the two per cent mark – excluding December – since 2009, leading it to suggest that the rental crisis of recent years might be coming to an end.
SQM Research believes this trend is due to a number of factors, such as a recovery in the Australian property market and an increase in the amount of renters becoming first-time buyers.
Managing director Louis Christopher commented: "While the rental market is unlikely to blow out to an oversupply situation in this cycle, we do believe an easing of what has been an extended period of tight conditions for tenants, will now come into existence."
He also believes that rent rises will now slow down so they are more in line with the consumer price index.