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Crazy busy rental market Brisbane

Discussion in 'Property Management' started by Tim86, 31st Jan, 2016.

  1. Tim86

    Tim86 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,182
    Location:
    Brisbane
    I just put a couple of places up for rent yesterday morning. The amount of responses I had was absolutely ridiculous.

    Most of the stuff I have up for rent has now gotten deposits on it with tenants ready to move in straight away.

    For example I have one cottage. I've advertised it before, a little later in that particular year. I got maybe one enquiry every couple of days.

    This time within 24 hours I would have gotten 20 enquires for this one cottage. I ended up just ignoring enquiries toward the end. 6 inspections today just for that one cottage. First person that saw it took it. Got another place snatch up and deposit paid. And another place taken too pending deposit.

    I was stressing hardcore about having so many places go vacant all at the same time. But wow with this response it was like shooting fish in a barrel!

    Anyone else having a similar experience right now in Brisbane?
     
    Bran likes this.
  2. kitdoctor

    kitdoctor Well-Known Member

    Joined:
    31st Jul, 2015
    Posts:
    66
    Location:
    Darwin
    I think it depends on the area.

    Inner city units/apartments (e.g. New Farm and Teneriffe) have been either not achieving rent increases or going backwards due to oversupply.

    We had a great result with a new IP in September 2015 at Kawana Waters on the SS coast near the new hospital. One viewing and had it rented.
     
    Tim86 likes this.
  3. Gockie

    Gockie I love my home :D Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    5,404
    Location:
    Sydney
    I've had that happen once. 22 or so parties going through within the 15 minute allotted open time, multiple offers... I took the tenants that offered to pay an extra $20 a week above asking rent. They were good tenants too. :)
     
    Tim86 likes this.
  4. vbplease

    vbplease Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    587
    Location:
    Brisbane
    That's good to hear Tim. I was getting a little worried about how soft the market was getting with our ppor turning ip in a month. I think the biggest factor in your huge response numbers is the timing. January is peak rental time.. a month earlier or later is a different story..
     
    wylie and Tim86 like this.
  5. FirstTimeBuyer

    FirstTimeBuyer Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    88
    Location:
    Sydney
    Had an IP settle about 10km north of Brisbane mid Jan. I was told it probably wouldn't rent out till late Jan/early Feb but had it rented within a few days and a good tenant too
     
    Tim86 likes this.