Elizabeth Tilley 10 JAN 2019
BRISBANE’S housing market is slowly giving the keys back to landlords, with new figures revealing the city recorded its strongest annual rise in rents in three years.
After months of flat growth in rental properties, analysis of the latest CoreLogic data by realestate.com.au shows house rents increased 2.4 per cent in 2018, while the cost of leasing a unit became 2.6 per cent more expensive.
Industry experts say the data shows now is the time to buy in the Brisbane market. Realestate.com.au chief economist Nerida Conisbee said the only way was up for rents in the city from here on, as underlying demand in the Brisbane market began to absorb rental supply, putting upward pressure on rents.
“Now is actually a good time to look to buy because we are looking to see further increases in rental levels,” Ms Conisbee said. “The reason being we have fewer new developments going ahead and also fewer investors in the market.”
“Queensland is also attracting a lot of people, so there’s going to be more homes needed,” she said.”
The state’s improving economy, relative housing affordability and rising job prospects would further entice investors to head north, Ms Conisbee said.
Rental yields are also improving for both houses and units.
https://www.realestate.com.au/news/thinking-of-buying-a-home-nows-the-time-to-make-it-happen/