Seasonal factors in Southeast Queensland and the State’s tourism centres saw a slight increase in vacancy rates over the Christmas/New Year period, however overall market conditions remained tight, according to the REIQ.
The REIQ Residential Rental Survey for December 2014 indicates a decrease in rental stock, suggesting that investors may be taking advantage of improved selling conditions to place their investment properties on the market.
REIQ CEO Antonia Mercorella said it appeared many properties coming on to the market, which may otherwise be targeted by investors, were being sold instead to owner-occupiers.
“The net effect appears to be a shortage of rental supply” she said.
“Despite the tight conditions in the Southeast and our tourism centres, vacancy rates actually held steady or rose in these regions, which isn’t unusual for this time of the year.
“Residential vacancy rates are prone to seasonal fluctuations over the Christmas/New Year period and 2014 was no different.
“Many REIQ agents reported softer tenant demand in December, with many leases expiring as students finish up their studies and others also take up employment opportunities in new locations.”
Continue reading here. From the REIQ