Out-of-town tenants flood cheap Gladstone rental properties
CHEAP rents are keeping real estate agents run off their feet with some agencies recording their busiest month in rental history in August.
Ray White Gladstone director John Fieldus said last month they rented 62 properties and took 156 inquiries.
LJ Hooker Gladstone recorded more than 90 renewals and new tenants for the month.
Mr Fieldus said there was an increase in interest from newcomers to Gladstone too.
"In the last month 40% of our tenants have come from outside Gladstone, which shows we're not just relying on people moving around town trying to get a bargain," Mr Fieldus said.
"It seems most of these new tenants are from south from either Bundaberg or Hervey Bay."
LJ Hooker director Mark Spearing said the statistics "paint a clear picture" of the current rental market.
Mr Spearing said based on past market trends he expected the rents to stay low.
"You're seeing multiple showings and applications on good properties," Mr Spearing said.
"The market is stabilising which is no surprise with what it has been through."
It was a similar story for Elders Real Estate, rentals manager Mary Carlyon said.
"The notices to leave has steadily decreased in the last four months and now the applications for tenants are outweighing the people leaving," Ms Carlyon said.
"I would think that the more people coming in then the better it is for our retail sector and our community."