REIQ Chief Executive Officer Anton Kardash said the tighter rental market was due to the growing tenant demand across the region, as well as a decreasing availability of stock throughout the state.
In the Gold Coast alone, the demand from tenants remains high while the amount of available property is posing a problem. However, an increasing number of investors are beginning to help alleviate this situation. The vacancy rate is currently resting at 2.2 per cent, which shows strong conditions for those interested in purchasing Broadbeach real estate.
Furthermore, it’s a similar story in the Queensland capital city. Brisbane has seen the vacancy rate fall to 2.3 per cent, which – barring a slight spike in December – makes the overall vacancy rate over the last 12 months somewhere between 2 per cent and 2.3 per cent.
With conditions like this, now could be a great time to consider purchasing investment Gold Coast property in the coming months.