Post a Comment On: Brisbane Apartment

RP Data has recently released its quarterly rental review.  It shows that Brisbane apartment rents are flat.  My sources tell me that rents are declining.
Vacancy rates are longer.  My rough rule of thumb is that for every week a property is vacant, that is approximately $10 a week off the rent for a one year period. Rental periods (e.g. 1 year, 6 months) are tending to be shorter, with tenants turning over more often Actual rents are flat, or decreasing slightly. New apartment buildings that have many empty apartments are offering rent free periods, which in effect is a rent reduction.  For example, if the weekly rent is $500 a week, but the landlord offers four weeks for free, then the effective rent for the year is $461 a week.  But the RP Data report will show the rent as $500 a week.