According to the Real Estate Institute of Queensland, the two most popular destinations for interstate migration still remain the Sunshine Coast and Gold Coast.
Citing liveability, affordability and lifestyle along with economic opportunities and education, the Sunshine Coast’s rental market is firmly gripped at 0.3 per cent, shows the REIQ’s latest vacancy data for the December 2020 quarter.
Areas such as Buddina (0.3%), Caloundra (0.3%), Maroochydore (0.5%), Noosa (0.4%) and Sunrise Beach (0.5%) have continued to tighten marginally over the past three months.
As for the Gold Coast market, REIQ chief executive Antonia Mercorella says rental properties are being “snapped up across all regions”.
Surfers Paradise recorded more than 2,100 vacant rentals at the peak of the pandemic nine months ago, and currently has 0.7 per cent stock availability, with its rental market now rebounding beyond pre-Covid levels to reach a new record low.
Record low vacancies have also been reported across the Gold Coast region.
In the north, which has a median vacancy of 0.6 per cent, stocks have reached all-time lows in areas such as Arundel (0.6%), Labrador (0.7%), Oxenford (0.1%), Runaway Bay (0.5%) and Southport (0.7%).
And on its southern end, a median vacancy of 0.3% across suburbs including Broadbeach (0.8%), Currumbin (0.3%), Miami (0.2%), Palm Beach (0.3%) and Varsity Lakes (0.6%).
Contact us for more information on the current rental and property investment markets in Australia.
Recent Comments