Increase in Brisbane Rental Prices

A report from this month by CoreLogic shows there’s an uplift of rental prices across Brisbane, up to 1.6 per cent over the end of January.

January is the peak season, according to Domain economist Trent Wiltshire. This means agents can increase rent prices, getting as much as an extra $20 to $30 a week. He predicts the next peak will be June and July.

Also in Brisbane, the vacancy rate has tightened from 3.1 per cent to 2.9 per cent.

Eliza Owen, head of research at CoreLogic, also pointed out that mortgage rates are at near record lows, which can attract more investors to the Brisbane market.

For investors, home values are at a record high and continuing to climb. The outlook is looking positive for the economy, according to Owen. This thanks to the promising Queensland employment market.

In the past year, there was a rise in the number of people employed in scientific, technical and professional services. This is driving the demand in the Brisbane property market, said Owen.

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