Domain’s latest Rent Report revealed median house rents in Brisbane jumped 14.9 per cent – or $65 - in the 12 months to March, and 4.2 per cent for the quarter
Unit rents in Brisbane also rose, to a record high of $420 a week, the steepest annual increase in 13 years. “I think there’s a variety of different things going on; when you look at the latest population statistics, we have the highest growth of all the states and the driver of that growth has been interstate migration.“I think the other thing that goes into this is the cost of a mortgage, increasing inflation and the cost of living going up. All this could influence rental prices and I think landlords are adjusting their rentals to match it.
Houses across Brisbane East had the biggest annual rent rise of 18.8 per cent, sending median weekly rents to an unprecedented $570. In Moreton Bay South, house rents jumped 15.1 per cent to $495 a week, while, in Logan, Beaudesert house rents climbed 15.8 per cent to $440. “On one hand, it’s great for investors and for those who invested two years ago … it’s also good for developers, and it makes lots of great opportunities. But it’s tough for renters.