If you are renting a property recently, here is the essential factors for you to consider where should you searching for the property. It can be seeing that tenants can be saving up to $120 a week in rent in some parts of Brisbane, where prices have fallen by as much as 25 per cent in the past year.
The good news for renters comes as the inner-city market continues to suffer from an apartment glut, providing more options to choose from and an influx of landlords offering discounts and incentives as they compete for tenants.
New research from realestate.com.au reveals the best deals for units can be found just 8km from the CBD in Stafford Heights, where the median weekly rent has dropped more than 25 per cent in the past 12 months to $225.
Apparently, there are just so many more option for renters in the market, and most of the apartments are owned by investors and they are all competing for tenants. Even though buyers are quite specific about what they buy, either a unit or a house but renters are far more fluid.
A lot of people who might have rented a house are now looking at these brand new apartments that have been built and seeing what they can get for their money. It’s great news for renters in Brisbane because they can get some pretty good deals quite close to the city.
BRISBANE SUBURBS WHERE UNITS RENTS HAVE FALLEN THE MOST
Suburb Median weekly rent (Nov 2017) Median weekly rent (Nov 2016) % change
Stafford Heights $225 $303 -25.62
Banyo $260 $320 -18.75
Sunnybank $330 $393 -15.92
Deagon $240 $280 -14.29
Highgate Hill $350 $398 -11.95
Tarragindi $300 $340 -11.76
Newstead $435 $490 -11.22
Clontarf $293 $328 -10.69
Birkdale $360 $400 -10.00
Warner $320 $355 -9.86
(Source: realestate.com.au. Based on rental decreases within 30km of Brisbane’s CBD)