POSITIVE INDICATOR: The tightening of rental vacancies on the Fraser Coast shows the market is strengthening.
POSITIVE INDICATOR: The tightening of rental vacancies on the Fraser Coast shows the market is strengthening. Contirbuted

Lower vacancy rates good sign for Fraser Coast

FIGURES from the Real Estate Institute of Queensland show the Fraser Coast rental market is tightening.

Vacant rental properties tightened to 2.2 per cent, dropping from 3.9 per cent the March quarter and 2.6 per cent in the June quarter.

Fraser Coast zone chair Damian Raxach said steady migration of people moving to area has helped to fill rental vacancies.

"There's a lot of activity in the building market, so I would say there's a fair proportion of those people who are renting while they're waiting for houses to be built," he said.

"We've had I think four people make applications in the last week who are in that situation which is exceedingly high."

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Mr Raxach the flow of people moving to the area are from Brisbane, Sunshine and Gold Coasts and particularly Sydney, after cashing in on an explosive market.

"Their markets have just gone so crazy down there that they're cashing up and moving on," he said.

"A lot of them want to rent to do research on areas for location, prices, and to get a feel for where there want to be, so that's another big thing that I think has had a big impact over the last six to nine months."

Keeping a consistently tight rental market is key to attracting investors to the Fraser Coast said Mr Raxach.

"We've got to keep the market flying by and showing them this is a good place to come and if you come here, not only will you get a good return, you'll have a very low vacancy rate."

Mortgage repayments could often be cheaper than rent on the Fraser Coast as well, according to Raine and Horne Hervey Bay sales supervisor Tim Wessling.



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