The residential vacancy rate in Gladstone has rebounded on last quarter’s figures, however, still remains extremely low.
The residential vacancy rate in Gladstone has rebounded on last quarter’s figures, however, still remains extremely low.

Gladstone’s residential vacancy rate squeeze continues

Gladstone’s residential vacancy rate remains extremely low despite rebounding by 0.2 per cent on last quarter’s figures.

Real Estate Institute of Queensland’s figures show a one per cent residential vacancy rate in December 2020 has improved to 1.2 per cent across the region.

In comparison, Rockhampton came in at a staggering 0.4 per cent, Bundaberg at 0.5 per cent, Banana at 0.7 per cent and Livingstone at 0.5 per cent.

Gladstone’s residential vacancy rate has not been above four-and-a-half per cent since March 2017, with a record low of 0.4 per cent being recorded in both September and December 2020.

REIQ chief executive officer Antonia Mercorella called on Queensland Premier Annastacia Palaszczuk to act in order to introduce support measures for the housing sector.

“With no support measures announced for the established housing sector in last year’s State Budget, the REIQ believes the Palaszczuk Government must take immediate action to resolve our current rental crisis,” Ms Mercorella said.

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“The rental sector plays a critical role in Queensland’s housing system and the role and size of our investor market has never been so important.

“The State Government say they want to help households transition from community housing to housing in the private rental market.

“Given that, more needs to be done to better support both increased and ongoing property investor activity in the Queensland property market and the contributions they make to the State economy.”

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