Rental demand grows

DEMAND for rental properties continues to strengthen with vacancy rates tightening across the State, according to the Real Estate Institute of Queensland.

The REIQ March residential vacancy rates, released this week, show most regions experiencing strong demand from tenants with vacancy rates in many areas now below 3%.

Though there were no REIQ figures available for the Gympie market, realestate.com.au had 152 properties listed for rent here.

Property Management Plus principal Tarsha Johnstone said her books reflected a tightening, with only a "handful" of rental properties still available.

Gympie Regional Realty property management division manager Debra Mason said rentals had slowed down since January, when 30 tenants a month were moving in.

She said inquiries from renters always picked up after Easter.

"People are not selling; they are renting. This is a very strong investment area," she said.

A vacancy rate of 3% is generally considered to be the equilibrium point of supply and demand.

In Brisbane, the vacancy rate has reduced to 1.7%, from 2.3% in December last year. The Sunshine Coast has improved from 4.9% to 3.1% over the same period.

Gympie Times


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