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REAL ESTATE GUIDE
August 29, 2020
ANOTHER HOME
SOLD BY
BY HARCOURTS
NORTH LAKES/MANGO HILL
new weekly guide showcasing the
best in local real estate
RayWhite
REAL ESTATE GUIDE
REAL ESTATE GUIDE
QLD RENTAL MARKET FACES
TIGHTEST CONDITIONS SINCE GFC
“It’s no surprise that we’ve seen a shift in our
State’s rental composition to more affordable “You’re not buying into a city, you’re buying
rental supplies in outer urban and regional into a suburb, so you need to understand that
areas during COVID-19. On the plus side it particular suburb’s vacancy rate now and in
helps break up their mono-tenure and the future,” explains Ms. Mercorella. “For
supports more local economies to withstand example, in Brisbane CBD we know the rental
Around 70% of the State’s rental market the pressures of the pandemic we’re market has been hit harder due to the high
currently faces extremely tight witnessing in our larger cities,” says Ms. number of renters facing financial stress due
conditions – in fact, the tightest Mercorella. “However, such limited rental to change or loss of employment, a reduction
conditions seen in Queensland since the supplies have the potential to result in poorly in international tertiary students
Global Financial Crisis according to the matched housing preferences and impact the as well as permanent and temporary
REIQ’s latest quarterly rental vacancy urban spatial structure and functioning of migrants, and a significant shift in short-term
data released today. these same regions – such as transport lets over to the longer-term rental market. It’s
costs, labour markets and access to services therefore likely we’ll see rents drop in the inner
and amenities. It also shows that there’s a Brisbane areas which in turn will result in
“Every Queenslander should have access to a
decline in government investment in social tenants eventually returning to the city.
safe, secure and affordable home that meets
housing with more low-income renters in the However, much of it will also depend on the
their needs and supports them to participate
market.” commercial and retail sector’s ability to
in the social and economic life of a vibrant and
rebound. It’s very much a ‘watch this space’
prosperous State.” That’s the message from
A lack of investment over the prior two situation unlike anything we’ve ever
Antonia Mercorella, CEO of the Real Estate
decades means social housing is available experienced.”
Institute of Queensland (REIQ) as around 70%
mostly to those with the most complex and
of the State’s rental market currently faces
urgent needs. Furthermore, the State
extremely tight
Government’s current 2017-2027 housing About The REIQ: The Real Estate Institute of
conditions – in fact, the tightest conditions
strategy envisages greater movement of Queensland (REIQ) is the state’s peak
seen in Queensland since the Global Financial
lower income households from social professional association for real estate
Crisis according to the Association’s latest
housing into the Queensland rental market. practitioners across the state. The
quarterly rental vacancy data released today.
Association’s purpose is to make important
“While there’s evidence of longer term renting contributions to government policy direction,
“The rental sector plays a critical role in
of 10 or more years and some households industry research and development, tailored
Queensland’s housing system and the role
facing the prospect of a lifelong tenure in this educational programs and training, and the
and size of our investor market has never
sector, what this suggests is that our rental promotion of industry standards.
been so important,” explains Ms. Mercorella.
market has changed from its historical role as
“Any further tightening in rental availability
a transitional housing sector for people
levels will only place additional undue
moving into home ownership or
pressures on our housing sector which is why
social housing to a long-term housing sector 21 ABS:
ABS: Survey of Income & Housing (June 2018)
more needs to be done to better support both 3101.0 - Australian Demographic Statistics (Dec 2019)
for a significant number of Queensland
increased and ongoing property investor
households. It’s
activity in the Queensland property market
for these reasons rental vacancies can
and the contributions they make to the State
actually act as a barometer that measures the
economy.”
health of our
property market,” further explains Ms.
With over 36%1 of Queensland’s population
Mercorella.
renting their home (approximately 1.2
*The REIQ calculates the vacancy rates for the
million 2 ), the State’s regional areas are
Vacancy rates also can and do vary widely on largest governmental areas and regions in
currently out-performing major metropolitan
a suburb level too. For example, as the outer Queensland. The calculation is based upon all
areas when it comes to rental demand. With
regions of our capital city currently highlight residential rentals as at the end of each
18% of Queensland regions experiencing less
tight rental stock at a mean of 1.7%, quarter period, as submitted by real estate
than 1% vacancy at present, you’ll be hard
fluctuations are more pronounced from agents. The REIQ classes rental markets into
pressed finding rental accommodation in the
region to region – Ipswich (1.9%), Logan three categories: weak, healthy, and tight.
likes of Maryborough (0.4%) on the Fraser
(2.2%), Moreton Bay (1.4%) and Redland City These rental markets are classified according
Coast or Mount Isa (0.5%) in the Gulf Country
(1.3%). Meanwhile, inside Brisbane’s 5km city to their vacancy rates: 0-2.5% = tight; 2.5-
region – the State’s lowest recorded
circle the mean vacancy is 3.9% – the State’s 3.5% = healthy; and, 3.5% and above = weak.
vacancies for the quarter. Other areas under
only ‘weak’ rental market for the quarter.
1% also include Gympie (0.9%) and
However, when you drill down a little further
Rockhampton (0.7%).
into individual suburbs, postcode 4000 shows
With more than two thirds of Queensland
significantly higher vacancy levels (13%)
experiencing tight rental vacancies, it’s also
versus surrounding postcodes including
‘slim pickings’ across many popular regions The Real Estate Institute of Queensland Ltd
4005 (New Farm, Teneriffe – 2.6%), 4006
including Caboolture (1.2%), Fraser Coast 50 Southgate Avenue, Cannon Hill
(Bowen Hills, Fortitude Valley, Herston,
(1.2%), Mackay (1.3%), Sunshine Coast (1.9%) PO Box 3447, Tingalpa DC Qld 4173
Newstead – 7.9%), 4059 (Kelvin Grove, Red
and Townsville (1.7%) while only marginally P | 07 3249 7300 F | 07 3249 6211
Hill – 4.9%), 4064 (Milton, Paddington – 3.3%)
higher in Cairns (2.4%),
Gladstone (2.0%) and Noosa (2.4%).
and 4101 (South Brisbane, Highgate Hill, www.REIQ.com
West End – 9.2%).PHILL HEALEY
LICENSED REAL ESTATE AGENT
MANGO HILL & NORTH LAKES
BUY - SELL - RENT
WHAT MY CLIENTS HAVE TO SAY...
} Phill has a strong background in Sales and has been in the
industry since 2009. He has lived in the Moreton
Bay region for almost 2 decades, has been a local business
owner and is also a property investor. He has
strong negotiating skills and strives to achieve the best
outcome possible for his clients. Phill believes that
providing the best customer service is paramount and will
go above and beyond to ensure customer
satisfaction
~
PHILL HEALEY | 0414 452 244 | phill.healey@realty.com.au | www.atrealty.com.auPHILL HEALEY
LICENSED REAL ESTATE AGENT
MANGO HILL & NORTH LAKES
YOUR BIGGEST FINANCIAL DECISION
- DON’T JUST TRUST IT TO ANYONE!
SOLD SOLD SOLD
1490 Mount Mee Road, Mount Mee 23 Hulme St, Clontarf 3 Lamosa, Mango Hill
344/722 MORAYFIELD ROAD, BURPENGARY
This Gorgeous 2 bedroom Villa is located in the
desirable Riverbend Over 55's Retirement Estate.
Only 18 months old and stunningly presented,
this spectacular home would suit many.
Featuring 2 bedrooms, Master with ensuite
Full Size Main Bathroom
Great Kitchen with Modern Appliances AND Butlers
pantry
Air Conditioning Throughout
Remote Garage with Internal Access
Your own Deck and Private Yard
PLENTY of Storage
Pets ALLOWED
FOR SALE Close to Clubhouse
Secure Complex
Facilities Include: Pool, Clubhouse, Bowling Green
Reasonable Management Fees, Rent Subsidy may also
RETIREMENT AT ITS BEST! apply subject to eligibility
3 BED | 2 BATH | 1 CAR
$349,000
COMING SOON!
Creekside - Narangba
Modern 807m2 | 5 bedroom | 2 bathroom | DLUG
Inground saltwater pool
PHILL HEALEY | 0414 452 244 | phill.healey@realty.com.au | www.atrealty.com.auREAL ESTATE GUIDE
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