Qld’s weather, relative affordability, easier Covid-19 journey and remote working saw a flood of people move towards better lifestyle choices.
The top 20 Qld suburbs where rental housing needs are most dire have been named, stretching from Cairns to Coolangatta with no vacancy rate more than 0.8 per cent.
The RentRabbit.com.au Rental Crisis Report, out Monday, warned renters in those suburbs were in a dire situation given most were on the lower end of the socio-economic scale.
RentRabbit co-founder Ben Pretty said there was a need to put in greater protection from rental price surges for tenants via the Rental Tenancies and Rooming Accommodation Act.
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The lease on a unit in this Bilinga building is for about four months.
“There are major issues within the rental legislation which can help address some of these circumstances. Currently there’s no maximum limit on increases in rent – that needs to change. You cannot have someone who’s been renting the same property for four to five years all of a sudden get a rental increase of $150 or more. We’re seeing many renters in Brisbane receive such increases. As a voice for the renters we’re really calling on the state government to look at that legislation and stop that increase.”
One of just five houses for rent in Margate.
Mr Pretty said in many of the suburbs named, renters did not have as much financial choice compared to others.
“For affluent tenants in more privileged suburbs, they at least have more options in terms of where they can live, especially as many of them are knowledge workers who can work remotely,” he said.
“But for the many tenants who have low household incomes and who live in socio-economically disadvantaged areas, they’re really struggling right now and have very few options.”
Mr Pretty said a multi-tier government approach was necessary to tackle the crisis.
“We hope the new Albanese government can work with the Queensland government to find a way to increase the level of rental supply and solve this problem, although we recognise there are no easy answers.”
The suburbs named have three things in common – incredibly low vacancy rates, low average weekly household incomes and below-average in terms of socio-economic status – and are ranked on median weekly rent as a share of average weekly household income.
Rental properties are regarded as ‘officially’ vacant when they’ve been on the market for 21 days or more.
Rent: A four-bedroom house at 20 Matisse Court, Coombabah, is one three houses listed for rent in the suburb. The home is listed at $745 weekly with a bond of $2,980 and available now., Open today 4:00pm View all, Available now
TOP 20 QLD SUBURBS IN RENTAL CRISIS:
1. COOMBABAH houses (Gold Coast – North)
Vacancy rate – June 2021 0.6%
Vacancy rate – June 2022 0.3%
Vacancy rate – change -0.3 percentage points
Median weekly rent – June 2021 $475
Median weekly rent – June 2022 $580
Median weekly rent – change 22.1%
Average weekly household income $941
Rent as share of household income 62%
2. COOROY houses (Noosa Hinterland)
Vacancy rate – June 2021 1.1%
Vacancy rate – June 2022 0.6%
Vacancy rate – change -0.5 percentage points
Median weekly rent – June 2021 $530
Median weekly rent – June 2022 $670
Median weekly rent – change 26.4%
Average weekly household income $1,095
Rent as share of household income 61%
3. CURRIMUNDI houses (Caloundra)
Vacancy rate – June 2021 0.9%
Vacancy rate – June 2022 0.7%
Vacancy rate – change -0.2 percentage points
Median weekly rent – June 2021 $510
Median weekly rent – June 2022 $612
Median weekly rent – change 20.0%
Average weekly household income $1,174
Rent as share of household income 52%
4. URRAWEEN houses (Hervey Bay)
Vacancy rate – June 2021 1.0%
Vacancy rate – June 2022 0.8%
Vacancy rate – change -0.2 percentage points
Median weekly rent – June 2021 $410
Median weekly rent – June 2022 $485
Median weekly rent – change 18.3%
Average weekly household income $945
Rent as share of household income 51%
5. BILINGA units (Coolangatta)
Vacancy rate – June 2021 1.2%
Vacancy rate – June 2022 0.8%
Vacancy rate – change -0.4 percentage points
Median weekly rent – June 2021 $510
Median weekly rent – June 2022 $540
Median weekly rent – change 5.9%
Average weekly household income $1,114
Rent as share of household income 48%
10 Langan Street, Earlville, in Cairns South is a three-bedroom house listed for rent at $535 a week and available from June 20.
6. EARLVILLE (Cairns – South)
Vacancy rate – June 2021 1.2%
Vacancy rate – June 2022 0.8%
Vacancy rate – change -0.4 percentage points
Median weekly rent – June 2021 $420
Median weekly rent – June 2022 $450
Median weekly rent – change 7.1%
Average weekly household income $958
Rent as share of household income 47%
7. BUNDABERG NORTH houses (Bundaberg)
Vacancy rate – June 2021 0.6%
Vacancy rate – June 2022 0.3%
Vacancy rate – change -0.3 percentage points
Median weekly rent – June 2021 $340
Median weekly rent – June 2022 $390
Median weekly rent – change 14.7%
Average weekly household income $833
Rent as share of household income 47%
8. PARRAMATTA PARK houses (Cairns – South)
Vacancy rate – June 2021 1.3%
Vacancy rate – June 2022 0.6%
Vacancy rate – change -0.7 percentage points
Median weekly rent – June 2021 $450
Median weekly rent – June 2022 $500
Median weekly rent – change 11.1%
Average weekly household income $1,069
Rent as share of household income 47%
9. BEERWAH houses (Sunshine Coast Hinterland)
Vacancy rate – June 2021 0.7%
Vacancy rate – June 2022 0.2%
Vacancy rate – change -0.5 percentage points
Median weekly rent – June 2021 $420
Median weekly rent – June 2022 $565
Median weekly rent – change 34.5%
Average weekly household income $1,225
Rent as share of household income 46%
Rental listings have been tight across most suburbs as families were drawn to relocate to Qld.
10. SCARNESS units (Hervey Bay)
Vacancy rate – June 2021 1.0%
Vacancy rate – June 2022 0.5%
Vacancy rate – change -0.5 percentage points
Median weekly rent – June 2021 $320
Median weekly rent – June 2022 $350
Median weekly rent – change 9.4%
Average weekly household income $766
Rent as share of household income 46%
11. BLI BLI houses (Nambour)
Vacancy rate – June 2021 0.6%
Vacancy rate – June 2022 0.3%
Vacancy rate – change -0.3 percentage points
Median weekly rent – June 2021 $500
Median weekly rent – June 2022 $600
Median weekly rent – change 20.0%
Average weekly household income $1,355
Rent as share of household income 44%
12. TOOWOOMBA CITY houses (Toowoomba)
Vacancy rate – June 2021 1.9%
Vacancy rate – June 2022 0.0%*
Vacancy rate – change -1.9 percentage points
Median weekly rent – June 2021 $350
Median weekly rent – June 2022 $410
Median weekly rent – change 17.1%
Average weekly household income $951
Rent as share of household income 43%
13. MARGATE houses (Redcliffe)
Vacancy rate – June 2021 0.9%
Vacancy rate – June 2022 0.4%
Vacancy rate – change -0.5 percentage points
Median weekly rent – June 2021 $420
Median weekly rent – June 2022 $450
Median weekly rent – change 7.1%
Average weekly household income $1,062
Rent as share of household income 42%
Rent: A five-bedroom house at 37 Tahiti St, Taigum, is listed at $750 a week rent, available now. One of two houses listed for rent in the suburb.
14. TAIGUM houses (Sandgate)
Vacancy rate – June 2021 1.1%
Vacancy rate – June 2022 0.4%
Vacancy rate – change -0.7 percentage points
Median weekly rent – June 2021 $450
Median weekly rent – June 2022 $540
Median weekly rent – change 20.0%
Average weekly household income $1,294
Rent as share of household income 42%
15. BARGARA houses (Bundaberg)
Vacancy rate – June 2021 1.3%
Vacancy rate – June 2022 0.5%
Vacancy rate – change -0.8 percentage points
Median weekly rent – June 2021 $375
Median weekly rent – June 2022 $450
Median weekly rent – change 20.0%
Average weekly household income $1,088
Rent as share of household income 41%
16. CABOOLTURE SOUTH houses (Caboolture)
Vacancy rate – June 2021 1.5%
Vacancy rate – June 2022 0.6%
Vacancy rate – change -0.9 percentage points
Median weekly rent – June 2021 $360
Median weekly rent – June 2022 $400
Median weekly rent – change 11.1%
Average weekly household income $978
Rent as share of household income 41%
17. MARCOOLA units (Maroochy)
Vacancy rate – June 2021 1.8%
Vacancy rate – June 2022 0.7%
Vacancy rate – change -1.1 percentage points
Median weekly rent – June 2021 $420
Median weekly rent – June 2022 $480
Median weekly rent – change 14.3%
Average weekly household income $1,201
Rent as share of household income 40%
18. ATHERTON houses (Tablelands East – Kuranda)
Vacancy rate – June 2021 0.4%
Vacancy rate – June 2022 0.2%
Vacancy rate – change -0.2 percentage points
Median weekly rent – June 2021 $355
Median weekly rent – June 2022 $380
Median weekly rent – change 7.0%
Average weekly household income $960
Rent as share of household income 40%
19. ROTHWELL houses (Redcliffe)
Vacancy rate – June 2021 0.3%
Vacancy rate – June 2022 0.2%
Vacancy rate – change -0.1 percentage points
Median weekly rent – June 2021 $405
Median weekly rent – June 2022 $450
Median weekly rent – change 11.1%
Average weekly household income $1,157
Rent as share of household income 39%
20. LAIDLEY houses (Ipswich Hinterland)
Vacancy rate – June 2021 1.8%
Vacancy rate – June 2022 0.5%
Vacancy rate – change -1.3 percentage points
Median weekly rent – June 2021 $320
Median weekly rent – June 2022 $340
Median weekly rent – change 6.3%
Average weekly household income $879
Rent as share of household income 39%
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The post Rent crisis: Top 20 Qld suburbs most desperate for rental housing appeared first on realestate.com.au.