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Brisbane vacancy rate

Discussion in 'Property Management' started by evisional2, 21st Aug, 2016.

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  1. evisional2

    evisional2 Well-Known Member

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    Hi

    I see the vacancy rate in some Brisbane suburb i.e Murarrie, Hawthorn, the Gap, Morningside is upto 6%, quite high. I am buying a property in Brisbane but worried about about rent vacancy. Any one has problem to rent our your property?

    Thanks
     
  2. vbplease

    vbplease Well-Known Member

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    6% sounds a bit high.. Where did you get this figure from? Sqm research tells me the suburbs inner north and south suburbs I monitor are 3.5 and about 2.6% respectively.

    Our house just got re-let at the first home open (enoggera). Now is not an ideal to find a tenant too.. Well outside peak time. I see a lot of houses sit vacant because the stingy landlord won't update the kitchen/bathroom from the 60's.. Fine by me - it lets the modern house get snapped up quick.
     
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  3. RetireRich101

    RetireRich101 Well-Known Member

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    I was trying to ask the same too.

    Does people take the 'vacancy rate' in SQM into consideration, rather than the 'number of vacancies'?

    For example, Morningside I would read as out of 100 house for lease, there are 2.5 house vacant, hence 3.5% vacancy rate.

    SQM Research - Residential Vacancy Rates
    upload_2016-8-21_16-18-30.png
     
  4. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    From this graph it's 3.5%... but that's still too high for my liking. I'd look to buy there at 2% or lower.
     
  5. RetireRich101

    RetireRich101 Well-Known Member

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    Then postcode 4114 for Kingston, Woodridge and Logan central :p it is under 2% vacancy rate despite some people saying it is investor led, lot of vacant land what not..

    Interested to know if BA use this info on vacancy info for their clients. If not, how different is to the sqm data?
     
  6. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    I cant answer for BAs but some if the things I'd consider are days on market, vacancy rates, development (land and apartments), general sentiment, a reasonable rental return and if I think the area has good future prospects.
    If these boxes arent all ticked, then move onto somewhere else...
     
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  7. DiligentPM

    DiligentPM Well-Known Member Business Member

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    Preparing a property for market is essential - great images, a professional marketing spiel, bold sign out front, good online advertising, multiple Open Homes with inspections by private appointment offered as well, gardens tidied up and refreshed with new bark chips in garden beds, sparkling inside, maintenance matters addressed - proactively taking the time to prepare a property for market and undertaking a thoughtful marketing campaign with the property priced at competitive market values collectively contributes to minimising the vacancy period.
     
  8. Azazel

    Azazel Well-Known Member

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    Are you looking to buy in one of those suburbs?
    If it concerns you, how about some other areas with a lower vacancy rate.
     
  9. dabbler

    dabbler Well-Known Member

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    I am told that bayside is very flat at the moment, but sales can't get enough stock, me thinks lot of renters turning to OOs maybe :)
     
  10. Azazel

    Azazel Well-Known Member

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    Yeah, seems to be a bit of that happening I think.
    Was some people talking about it being a bit soft in the south too I think.
     
  11. willair

    willair Well-Known Member Premium Member

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    You may have to break that down between houses and walkup units if your invested in Hawthorn-Morningside small area's for rental vacancy listings and private rentals,i was in Hawthorn yesterday,there is so much building going on within that small area,any large blocks above 800sqm's are in big demand,vacant blocks everywhere ready to start building,fast track 2 years time when all the multi unit complexes from the CBD out too these blue chip area's come online then the vacancy rate for these area's maybe even higher then 6%..imho..
     
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  12. Azazel

    Azazel Well-Known Member

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    I reckon that's pretty spot on.
    Lots of developments becoming available in the near future.