Brisbane: The Nation's Standout
Brisbane is the only capital city to see growth in median rent returns, according to Domain's Quarterly Rental Report. With major cities like Sydney and Melbourne seeing falling rent prices, Brisbane has bucked the trend to maintain its current position.
What Are the Details?
Annual gross rent returns for houses grew by 0.6%, while apartments saw a 0.7% increase, the strongest annual increase in over six years. This is good news for investors and those looking to enter the investment market, with more potential for stronger returns.
As Domain senior research analyst Dr Nicola Powell noted, we're currently in the longest period of stability in Brisbane's rental history.
"Tenants in the Sunshine State have enjoyed four years of steady house rents… (while) Sydney and Melbourne continued to record the lowest gross rental yields for houses and units," Dr Powell said.
What Does This Mean?
With Australia seeing a national rent growth of just 0.4% over the past 12 months, Brisbane's rental market is one of the standouts for the country. This means it’s a more attractive option for investors than other capitals, and more likely to deliver stronger rental returns for property investments.
Of course, if you're looking to enter the market, or want to get the best from your investment, you should always get professional advice tailored to your personal situation. Our sales agents and property managers can help you make the right choice, so talk to us today for a free, confidential consultation.