New REIQ figures report healthy Cairns rental market
New REIQ vacancy rate data for September has revealed steady numbers for the Cairns region.

THE Cairns rental market is proving “healthy” because of
stronger employment opportunities.

New Real Estate Institute of Queensland (REIQ) vacancy rate
data for September has revealed steady numbers for the Cairns region.
REIQ CEO Antonia Mercorella said Cairns was one of the best performing regional
centres, with a drop from 2.7 per cent to a 2.6 per cent vacancy rate.

She said it reflected continued employment and
improvements in the tourism market.

Across the rest of the state, the rental markets from Gympie
south to the Gold Coast and west to Toowoomba are largely at historically tight
levels and parts of the Sunshine Coast are registering less than one per cent
vacancy. “We’re seeing strong demand for rental properties in
these areas and while a small level of this demand is seasonal, it does mean
good news for investors who have certainty around finding tenants for their
properties,” said.

Brisbane continued its long-term trend with a vacancy
rate of 2.8 per cent, which was still in the healthy range, Ms Mercorella said.
“We continue to see strong demand for dwellings in the Brisbane market and
despite some commentators who suggest that we are facing a glut the data tells
a different story.”

The Gold Coast dropped from 2.3 per cent to 1.7 per cent,
while the greater Sunshine Coast area recorded a drop from 1.6 per cent to 1.3
per cent.

minor-latin;mso-hansi-theme-font:minor-latin;mso-bidi-font-family:"Times New Roman";
EN-US;mso-bidi-language:AR-SA">Likewise, the news was good in Toowoomba as the
vacancy rate dropped from 3.1 per cent to 2.7 per cent. To the
north, Gladstone recorded a weakening in its vacancy rate from 5.2 per cent to
7.1 per cent and Rockhampton revealed a steadily improving picture with the
vacancy rate moving from 6.0 per cent to 4.5 per cent. Mackay’s
vacancy rate held steady at 9.1 per cent for a second consecutive quarter,
while Townsville held relatively steady at 5.6 per cent, up marginally from 5.3
per cent