Property

Fraser Coast rents rise 6.7% in a year

THE Fraser Coast property market is on the rise as the rental market gains momentum and supply struggles to keep up with demand.

According to the Australian Property Monitors' Rental Price Series quarterly report, the Fraser Coast had experienced a 6.7% increase in median rent.

In this region, the median weekly rental price rose from $300 to $320 from 2013 to this year.

Real Estate Institute of Queensland Fraser Coast chair Linda Bland told the Chronicle things were positive for the region's homeowners.

"There is quite a lot of demand for rental properties and the supply just hasn't really been catching up," Ms Bland said.

"We have seen this trend for a little while now that the rental market has been tightening.

"They haven't gone crazy but we have seen a consistent increase."

Ms Bland said major developments such as the St Stephens hospital and Stockland could influence the market.

"I think it does, because it does bring a lot of other people here to work on those projects and work on those developments," she said.

"Those people obviously need properties to rent."

The Fraser Coast sits in a better position than Bundaberg, which has an average rental price of $300.

Ms Bland said real estate agents were reporting several applications for each rental property in the region, and she confirmed it was a good time to invest.

"We'll probably see this continued increase for a little while yet and, to be honest, the supply hasn't quite been keeping up with demand," she said.

"As long as that keeps happening the rental market will keep tightening. Another reason for investors to get into market."

Fraser Coast market

  • Median weekly rental price has risen from $300 to $320
  • Expert expects tight rental trend to continue and provide a good opportunity for investors

Topics:  fraser coast hervey bay market maryborough property rental



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