Rental vacancies in Queensland are beginning to tighten again, spurred on by strengthening tenant demand and a decreasing number of available properties on the market. This could highlight a great investment opportunity for those interested in establishing a property portfolio in the Bulimba real estate market.
According to Real Estate Institute of Queensland (REIQ) Chief Executive Officer Anton Kardash, the majority of the state has seen vacancies tighten over the last three months.
In Brisbane alone, the vacancy rate has dropped back down to 2.3 per cent, which was last seen in September 2013. Over the last 12 months, the state capital has seen rental vacancy rates hover between 2 per cent and 2.3 per cent, showing a tight market overall.
"Queensland is seeing a return to a tighter rental market. Stronger tenant demand and a decrease in the availability of stock are the common themes across the state," said Mr Kardash in an April 17 statement.
Limited rental supply and an increasing number of investors are helping to limit the market and retain a high degree of rental demand. With strong conditions, now could be a great time to investigate houses for sale in Bulimba and the surrounding suburbs in order to start or expand your own investment portfolio.