Whitsunday Rental Market edged even tighter than last quarter
Published on: Jan 21, 2021
As you all may know, the Whitsundays rental market has been tight since last quarter.
According to the Whitsunday Times, The Whitsundays rental market has edged even tighter than last quarter, but Mackay remains one of the tightest in Queensland.
Whitsunday Times has collated the following data from The Real Estate Institute of Queensland.
The Real Estate Institute of Queensland stated in their latest vacancy data that for the December 2020 quarter shows 90% of regional Queensland rental vacancy rates have plunged further to record an all-time median low of 0.575%
Bundaberg at 0.4%
Fraser Coast 0.6%
Hervey Bay 0.9%
Mackay 0.7%
Toowoomba 0.7%
Townsville 0.7%
Rockhampton recorded the lowest rental vacancies for the December 2020 quarter at 0.2%
In a Whitsunday Times interview with REIQ CEO Antonia Mercorella, she stated the reasoning for low rental availability across Queensland was because of the State Government’s measures keeping tenants in place for longer during the pandemic lockdowns.
“We have also seen a significant amount of interstate migration, with renters also moving to Queensland, so all of these factors have contributed to our current tight vacancy rates.
“What we’re seeing is an unprecedented level of diminishing rental availability that’s placing significant pressure on our state’s housing sector – so much so that it’s unsustainable and why urgent action is required to better support both increased and ongoing property investor activity in the Queensland property market and the contributions they make to the state economy.
If you want to read this report, check out this Whitsunday Times article here
