Vacancy rate data confirm growing pressure on rentals in SEQ.
The REIQ March quarter 2016 Vacancy Report has revealed the rental market in the southeast corner is operating in a very healthy to tight conditions, wish pressure building in some key ares for more investors and more rental accommodation to meet demand.
Cairns has been the standout regional centre, with further tightening of the vacancy rate, from 2.5 per cent down to 2.1 per cent.
“The Cairns property market is showing signs of consistent, solid improvement and this is a reflection of the broader economy which has rebounded well from the post-GFC woes,” Ms Mercorella said.
“There are some great signs of recovery in Cairns, including significant levels of development already taking place.”