Brisbane Leading In Rent Increase

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Brisbane Leading In Rent Increase

Brisbane Leading in Rent Increase

Brisbane continues to lead in Low Vacancy Rate compared to Sydney and Melbourne throughout the month of November, down from 1.4% to 1.3%. Where Sydney’s Vacancy Rate stayed at 2.6%, same as Oct, Melbourne is Vacancy rate dropped to 3.6% in November from 3.3% in October.

Vacancy Rates as November 2022

Source: SQM, 2021

Week ending 12th Dec 2021’s data also showed that Brisbane has recorded the highest percentage Rent increase for Houses over 12months change amount all Capital Cities in Australia. Brisbane’s median rent for houses is now at $544.4 per week, a 15.9% increase compared to 12 months ago. It is also interesting to note that Brisbane’s weekly rent for both houses and units are higher than Melbourne, which are $544.4 for houses and $399.9 for units per week compared to Melbourne’s $527.8 for houses and $372.7 for units. With the biggest Rent increase and still low median price compared to Sydney and Melbourne, investors in Brisbane continues to enjoy a higher rental yield for their investment properties.

Weekly Rents Index // Week ending 12 December 2021

Source: SQM, 2021

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