RENTAL DEMAND: Vacancies tighten on the Fraser Coast
A STEADY rental supply and an increase in demand has helped tighten rental vacancies on the Fraser Coast.
Vacancies tightened for a third-consecutive quarter according to the latest figures released in the REIQ Queensland Market Monitor.
The data showed vacancies shifted from the weak range of 3.9 per cent in March 2017 to the tight range of 1.6 per cent in December 2017.
According to the report the 2017 rental cost trends reveal a rising market as the weekly median rent for a three bedroom house and three bedroom townhouse increased in the range of $5 to $15 for the past 12 months.
This put weekly rent up to an average of $328.
Rents for two-bedroom units held steady at $250 a week over the past year.
Some property managers have noted the lack of employment opportunities as a potential issue for the rental market in 2018.
Houses and units achieved indicative gross rental yields of 4.9 per cent and 4.8 per cent, respectively in 2017.