Property

Softening Gladstone rents go against state trend

THE softening Gladstone rental market is going against the statewide stabilisation trend.

The latest REIQ Residential Rental Survey found the city's over-supply was pushing down median rents.

The survey, carried out at the end of June across REIQ-accredited real estate agencies, found Gladstone, Rockhampton and Mackay were feeling the pain.

Median weekly rents in the city have come down significantly compared to this time last year.

Three-bedroom houses have dropped by $150 a week and two-bedroom flats have fallen by $140.

REIQ acting chief executive officer Antonia Mercorella said the downward trend reflected changes in mining areas with FIFO workers.

"Gladstone's rental market remains in oversupply, however according to local agents the level of tenant and investor activity has returned to 'normal' rental market conditions," Ms Mercorella said.

"Similar conditions prevail in the Mackay rental market, however vacancy rates at the end of June improved slightly, dropping 0.7% to 6.8%."

Ms Mercorella said Queensland rental markets were stabilising heading into spring.

The vacancy rate for Brisbane eased to 2.3% at the end of June, compared to 1.9% at the end of March.

Figures from the Residential Tenancies Authority show a decline, compared to the previous quarter, in the number of bonds lodged during the June quarter across three-bedroom houses, two-bedroom units and three-bedroom townhouses.

Ms Mercorella said bright spots were Queensland's tourism centres, where rental markets were strengthening.

"Despite increasing activity in their sales markets, rental markets in Queensland's tourism centres still remain some of the tightest across the state," she said.

Topics:  gladstone property, market, real estate, rents




Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

'I just thought all mums got no sleep'

MELTOPIA battled PND with all four of her children.

4 survival tips for mummas heading back to work

The few reminders every working mum needs to read.

'I apologise every day that I am not the person he married'

My battle with postnatal depression...

Health and nutrition with kids - how do you balance it?

HOW important is health and nutrition in your household?

Smack or no smack - where do you stand?

THE debate is reignited - is smacking acceptable?

Technology and kids: Do you ever cut their wi-fi?

Check out our new video series featuring mums having a chat

15 changes that could affect you from July 1

Waleed Aly, left, joins The Project full time in 2015. Pictured with Carrie Bickmore and Peter Helliar. Supplied by Network Ten.

Plenty of changes arriving on July 1

Woman steals pregnancy test kit to avoid ‘gossip’

DIY pregnancy test kits.

Woman steals pregnancy kit to avoid small town gossip

Latest deals and offers

60th wedding anniversary

Leila and Pertti 'Peter' Kouivunen celebrated their 60th wedding anniversary this month.

Leila Koivunen has just celebrated her 60th wedding anniversary with husband...

Zac Beers on MEdicare

Labor held a rally on Dawson Hwy about more cuts to Medicare.

Clive Palmer to re-open refinery

Clive Palmer on ABC radio.

Clive Palmer talks about his achievements, election chances and re-opening the...

Burnett Heads housing development approved

COUNCIL APPROVED: A Burnett Heads housing development has been approved by Bundaberg Regional Council. Photo Contributed

Councillors approved the development seven votes to four

Three bedroom, 1100sqm block: Is this Qld's cheapest home?

BARGAIN BUY: Is this North Bundaberg property the cheapest home in Queensland?

Becoming a real estate mogul is all about risk and reward