REIQ Predicts 2021 Largest Rental Boom in History for Queensland Investment Properties
In the REIQ 2020 Wrap Up just released it was reported that "Demand for rental properties has been strong across Queensland throughout the year, with tight vacancy rates across the June quarter reported in October. The vacancy rate for the quarter ending in September 2020 was at 2 per cent for the Greater Brisbane region, with outer regions showing equally extremely tight results."
What does this mean for your investment property? "With heavy demand for rental properties present throughout Australia, Simon Pressley is predicting the biggest increase in rents that Australia has ever seen."
Further more to confirm this suspicion "“The reality is that Australia does not have enough housing supply for its existing 25.6 million population. Propertyology is predicting that these next couple of years will produce the biggest increase in rents that Australia has seen in living memory,” says Pressley."
As we reported in our November Market Update we received 248 applications on just 7 rental properties we had available, the REIQ confirms "While it isn’t uncommon for property managers to receive multiple applications on rentals, the current high numbers being reported across the state show no sign of slowing down."
You can read more about the latest REIQ Update here :