News

City’s rental market has strengthened to a new low

By David Bell
The rental vacancy rate within Rockhampton is at a low since the last five years.
The city’s rental market has strengthened, with vacancies tightening to 1 per cent this month, down from the 3.6 per cent of the September quarter.
The market is very active and very strong. Vacancy rates are about 1 per cent at the moment.
There’s a lot of activity out there in regards to people inspecting properties and there’s not much on the books at the moment in terms of availabilities.
The strength in the market can be contributed to employment opportunities in the area, whether it’s with mining, health care, teachers, or a bit of construction.
Activity in the employment sector equates to people are looking for homes as well.
The vacancy rate had jumped from 1.5 per cent in June.
REIQ Residential Vacancy Report
June – September 2019
• Rocky: 1.5 – 3.6 per cent
• Isaac: N/A – 3.9
• Livingstone: 1.4 – 1
• Scenic Rim: 2.5 – 3.8
• Bundaberg: 1.3 – 2.6
• Gladstone: 3.1 – 1.8
• Mackay: 1.5 – 1.7
• Toowoomba: 1.6 – 1.1
• Townsville: 2.2 – 3.2
Source: The Morning Bulletin
11th November, 2019
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