Queensland Vacancy Rates
Vacancy rates are a measure of the availability of rental properties in a given area. A low vacancy rate generally indicates that demand for rental properties is high and supply is low, whereas a high vacancy rate suggests the opposite. In Queensland, the vacancy rate has fluctuated in recent years and can vary depending on the specific location and type of property.
Factors that can impact vacancy rates in Queensland include the local economy, population growth, migration patterns, and government policy. The REIQ has released figures for rental vacancy rates for Queensland. It was interesting to note that the state-wide vacancy rate rose from 0.6 percent in the September quarter to 0.8 percent to close the 2022 year. The REIQ reports it is hearing from property managers across the state that there is noticeably less exit and entry activity than usual.
The Fraser Coast region's vacancy rates were released at 0.9%. With the recent announcement by our Premier, Anna Palaszczuk of 800 more jobs being created for Maryborough, we believe the need for rental properties is only going to increase.
At One Agency Fraser Coast, our tenants are often choosing to renew their lease rather than compete for a new place as the rental market is tight with so many people looking for accommodation. Whilst this is a stressful time for our renters, it is the perfect time to be considering entering the investment property market on the Fraser Coast.
If buying an investment property on the Fraser Coast is on your bucket list, now is the time to chat with us.