Brisbane’s rental market could have been described as a tenant’s market with rent falling for a few years in light of excess supply predominantly in the unit market. However, recent research from CoreLogic by realestate.com, shows that this trend has changed and rental prices are on the way up.
Housing rentals in 2018 increased by 2.4% whilst unit rentals also increased by 2.6%, both figures indicating solid growth.
Chief Economist from realestate.com is of the opinion that the only way for rent in Brisbane, is up. As underlying demand in the Brisbane market has begun absorbing excess rental supply, putting upward pressure on rents.
These figures support the opinion of some experts that are suggesting that property prices are on the way up and are likely to keep rising for the next 3 years.
Despite the recent negative news from our Southern States, this is a positive outlook for Brisbane’s First Home Buyers and anyone looking to invest in the Brisbane market.
The Mortgage Specialists at Brisbane Home Loans are available to discuss and assist with your purchase in the Brisbane market.
Our obligation-free assessment will measure any opportunities in your current lending and give you an indication of your buying affordability. Call for an appointment on 07 3889 9250.