Brisbane rent

Ive noticed modest increases in rent for similar properties to mine. I'll be instructing an increase by 10 dollars to 510.

Im wondering what others are doing in Brisbane. Who's increasing rent this year? Please also comment which suburb and amount of increase/decrease.

Jprops

 

Are the places going onto the market with the increase? I'm noticing a lot of expensive rentals that are also vacant.

 

The increase is only worth something if it's being paid is my point

 

Small increases $5-$10 per week and leaving 2 at the same weekly rent.

 

Bray park increase.
Kallangur no change.

 

Logan decrease.
Ipswich decrease.
Northern Gold Coast steady.
Southern Brisbane Region increase.

 

heard the same thing re Logan & Ipswich rent, how bad is the reduction?

 

Regarding Logan- It's hard to say at this stage because the market is still coming to terms with it, but if I had to generalize I'd say around 5%. It's not good.

I don't do a huge amount of business in Ipswich yet so I wont comment on my few experiences there in the past few months, but in addition to speaking to colleagues in town, I don't think Ipswich is too bad.

 

Tenant just renewed lease at the increased rent.

 

Logan- Decrease $415 down to $395 p/week
Morton Bay-Steady

 

We are renting at the moment and our rent was reduced by $65/week last year and we just renewed with no increase.

 

Wow, which suburb @SuzyG ?

 

Wavell Heights

The property needs a bit of work to re-let so I think the owner was better off keeping us in the property so they didn't have to spend the money.

 

Inner city market currently over supplied with good housing so very competitive market. We've had to decrease on one of our IP houses. Can only see it getting more challenging with increasing unit supply...

 

Have not been able to increase in 2 years on my properties, yet rates have gone up about 25%, plus increases in water and insurance costs.

 

I have a house at Taringa and increased the rent from $420 to $500 per week in February

 

Western Suburbs have been great! I got to give the father-in-law a $75wk increase on his place in Indooroopilly a few months back- $450wk with the old agents to $525wk with us on tenant changeover, and I've never seen so many people at a viewing before...!

On the other hand, most of the other southern Brisbane areas have been very average.

 

Nice! I think a combination of strong demand from uni students and families trying to get their kids into indro primary/high schools?

 

Bit of a mix of people coming to look, but funnily enough- our two front runner applicants were exactly the two groups you mentioned. The family trying to get their kids into the school pulled out once they saw the driveway (SUPER steep), so we approved three gorgeous uni students who have been AMAZING.

 

$630 Pimpama (rental appraisal is $630-$670 so may push for $650 in the middle)
$550 Everton park (will be looking to increase to $580-$590 after Reno later this year)