Brisbane has recorded the steepest rental price rises in the city’s history as it grapples with higher real estate prices, strong rental demand and a lack of housing., Brisbane has also experienced the highest annual increase of all capital cities in rental prices for both houses and apartments.“Brisbane has recorded its eighth quarter in a row of rising house rents, and the steepest annual lift in the city’s history,” said Domain’s chief of economics and research, Dr Nicola Powell.
Powell said purchase prices were rising in Brisbane as demand for rentals intensifies with the return of international students.“The biggest boost though has been interstate migration, with the latest population statistics showing Queensland has had the strongest population growth in Australia, which is adding pressure to the rental market,” she said.
On Wednesday, Premier Annastacia Palaszczuk blamed the crisis on higher interstate migration, supply shortages in the private housing market, and inflation. Defending her government’s efforts to increase social housing stock, Palaszczuk said pressure on housing was occurring nationwide.
Until people go back South