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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:
    1,291
    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?
     
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  2. kitdoctor

    kitdoctor Well-Known Member

    Joined:
    31st Jul, 2015
    Posts:
    68
    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 Be the change you want to see in the world Premium Member

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    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:
    789
    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..
     
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  5. FirstTimeBuyer

    FirstTimeBuyer Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    105
    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.
  6. Hetty

    Hetty Active Member

    Joined:
    27th Jun, 2015
    Posts:
    41
    Location:
    Sydney
    How are people finding it now? I'm not having any luck in Wishart :(
     
  7. NeedMoreTime

    NeedMoreTime Active Member

    Joined:
    19th Oct, 2015
    Posts:
    38
    Location:
    Brisbane
    I have a freshly renovated 3/1/1 house in Bracken Ridge that has been available for rent for 5 weeks and been dropping the price every week. By the time it rents it will probably be at the pre renovated rent.

    Have another 4/1/1 in Strathpine thats been available for 3 weeks and had to drop the rent to below what it was previoisly rented for and still no applicants. Not a good time of the year :(
     
  8. vbplease

    vbplease Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    789
    Location:
    Brisbane
    January is the peak month for rentals.. followed by July. You'll find a lot more interest in 3 weeks time. Jan/July are the start of the school semesters ;)
     
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