Rental market tightens slightly in Gladstone
THE rental market vacancy rate has tightened slightly in Gladstone, sitting at 3.8% after peaking at 7.7% at the end of 2013.
The Property Observer website reported mixed results in mining regions, with some showing improvements and others worsening.
REIQ chief executive Antonia Mercorella said it was too soon to make an overall call.
"Looking at the figures for Mackay, Rockhampton and Gladstone, it is too soon to call this anything other than what it is - a glimmer of hope that a turnaround is imminent.
"We know that in Mackay the local government is focusing on diversifying its key industries and employment prospects are looking up."
The oversupply of rental properties in Bowen and Moranbah is contributing to the high vacancy rates in Isaac and the Whitsundays.
Isaac's vacancy rate is 17.4%, while Whitsundays recorded a 13.5% vacancy rate at the end of March.
On the Sunshine Coast, landlords are continuing to enjoy a golden run, with new figures showing a vacancy rate for rental properties of just 1.9%.
It is the third-tightest rental market in the state, behind the Gold Coast and Moreton Bay (both 1.3%).
Mackay has a vacancy rate of 9.4% and Rockhampton has a rate of 4.4%.
RENTAL VACANCY RATES
- Gold Coast 1.3%
- Moreton Bay 1.3%
- Sunshine Coast 1.9%
- Logan City 2.1%
- Greater Brisbane 2.2%
- Fraser Coast 2.3%
- Cairns 2.4%
- Redland City 2.4%
- Ipswich 2.4%
- Brisbane City 2.5%
- Toowoomba 3.2%
- Gladstone 3.8%
- Bundaberg 4.1%
- Rockhampton 4.4%
- Townsville 5.9%
- Mackay 9.4%