Rental Accommodation Crisis in Queensland?
May 12th 2006, 5:22 pm
#1
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Location: Chermside West, Brisbane
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Rental Accommodation Crisis in Queensland?
Just been reading The Queensland Sunday Mail of 7th May and was shocked to read that there appears to be a 'Rental Accommodation Crisis' throughout the State?!
According to the article the forthcoming rise in interest rates by a quarter % will force rentals up and make them unaffordable for many people and the situation will worsen in the coastal cities.
Brisbane is apparently the WORST city in Australia to rent with a vacancy rate as low as 1% in some areas whilst there are other areas in the State where the vacancy rates are nil?
Can anyone confirm if things are as bad as painted in this article or is this merely scaremongering? According to the Real Estate websites there appears a vast amount of rental properties although the article raised the concern of the quality of same ie. poorly maintained etc. and also predicted that landlords and letting agents would be discriminatory in letting out properties!
Lone Ranger
According to the article the forthcoming rise in interest rates by a quarter % will force rentals up and make them unaffordable for many people and the situation will worsen in the coastal cities.
Brisbane is apparently the WORST city in Australia to rent with a vacancy rate as low as 1% in some areas whilst there are other areas in the State where the vacancy rates are nil?
Can anyone confirm if things are as bad as painted in this article or is this merely scaremongering? According to the Real Estate websites there appears a vast amount of rental properties although the article raised the concern of the quality of same ie. poorly maintained etc. and also predicted that landlords and letting agents would be discriminatory in letting out properties!
Lone Ranger
May 12th 2006, 6:04 pm
#2
brown eyes!
Joined: May 2006
Location: Shailer park, Brisbane, AUS
Posts: 450
Re: Rental Accommodation Crisis in Queensland?
Originally Posted by LoneRanger
Just been reading The Queensland Sunday Mail of 7th May and was shocked to read that there appears to be a 'Rental Accommodation Crisis' throughout the State?!
According to the article the forthcoming rise in interest rates by a quarter % will force rentals up and make them unaffordable for many people and the situation will worsen in the coastal cities.
Brisbane is apparently the WORST city in Australia to rent with a vacancy rate as low as 1% in some areas whilst there are other areas in the State where the vacancy rates are nil?
Can anyone confirm if things are as bad as painted in this article or is this merely scaremongering? According to the Real Estate websites there appears a vast amount of rental properties although the article raised the concern of the quality of same ie. poorly maintained etc. and also predicted that landlords and letting agents would be discriminatory in letting out properties!
Lone Ranger
According to the article the forthcoming rise in interest rates by a quarter % will force rentals up and make them unaffordable for many people and the situation will worsen in the coastal cities.
Brisbane is apparently the WORST city in Australia to rent with a vacancy rate as low as 1% in some areas whilst there are other areas in the State where the vacancy rates are nil?
Can anyone confirm if things are as bad as painted in this article or is this merely scaremongering? According to the Real Estate websites there appears a vast amount of rental properties although the article raised the concern of the quality of same ie. poorly maintained etc. and also predicted that landlords and letting agents would be discriminatory in letting out properties!
Lone Ranger
Hi, I contacted an estate egent this morning to ask about pets in rental propertys, anyway one of the things he said was that there is alot of rentals around in brisbane but you have to be very quick as they get snapped up straight away and adviced us to look every day on the web. (We were asking about renting in the forest lake area.)
Hope this puts your mind at rest,pete
(we will be going to brisbane soon as the house sells, got our visa last night!!) 
May 12th 2006, 6:38 pm
#3
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Re: Rental Accommodation Crisis in Queensland?
Originally Posted by pete jackson
Hi, I contacted an estate egent this morning to ask about pets in rental propertys, anyway one of the things he said was that there is alot of rentals around in brisbane but you have to be very quick as they get snapped up straight away and adviced us to look every day on the web. (We were asking about renting in the forest lake area.)
Hope this puts your mind at rest,pete (we will be going to brisbane soon as the house sells, got our visa last night!!)
Hope this puts your mind at rest,pete
(we will be going to brisbane soon as the house sells, got our visa last night!!) Lone Ranger
May 12th 2006, 9:40 pm
#4
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Joined: Jan 2004
Location: Bristol now Sunshine Coast
Posts: 202
Re: Rental Accommodation Crisis in Queensland?
We're on Sunshine Coast and found when we were looking to rent that when we turned up to view a property there would be 3 or 4 other people there viewing as well.When you find one you like you need to get your application in asap . In the end we found one through our local paper.There are rentals about ,as with alot of things its being in the right place at the right time. Good luck. 
May 12th 2006, 11:16 pm
#5
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Joined: Jun 2002
Location: Gold Coast- the best place in the world
Posts: 3,196
Re: Rental Accommodation Crisis in Queensland?
Rentals are hard to get here on the Sunny Coast. Mainly because you have to pay $370 000 + for a house and can only charge $330 pw week rent. If you do the math you will work out there is a huge shortfall in mortgage to rental cost. It gets even worse as you move up the scale my neighbour rents a house worth around $700 000, yet only pays $450 pw rent!! If you were to buy it it would cost over $4000 a month for the mortgage - no wonder people don't want to buy to rent any more.
In the Uk the cost of rent is far more balanced against the costs of the houses mortgage. Here it seems bizarre
In the Uk the cost of rent is far more balanced against the costs of the houses mortgage. Here it seems bizarre
