High demand for Brisbane rental properties as Queensland's housing crisis continues
By Alex Brewster and Meg BoltonNew real estate data shows rental properties in Queensland are attracting more than 120 enquiries each, as the housing crisis continues.
Property research group Proptrack revealed all 10 properties attracting the highest amount of enquiries on its realestate.com website were located in Brisbane.
A property in the inner city suburb of Bowen Hills, where the median rent in the suburb is $520, attracted 127 inquiries.
Demand for properties in suburbs further out from the CBD is also high, with more than 100 people enquiring about individual properties in Loganlea, Richlands, Berrinba and Doolandella.
At least 120 people enquired about a single property at West Ipswich and also at Ellen Grove.
An inquiry was classed as engaging with a real estate agent or the advertisement.
'I didn't have much hope'
The figures were no shock to Clayfield resident Shoshana Huppert.
She had dozens of rental applications rejected last year, before moving into a townhouse with friends, after the former tenants broke the lease.
She said the townhouse was unkempt and had issues with its sewerage system.
"There was like no real standard operating procedure around the cleanliness or anything like that, so they had left furniture in the place and the floor was black. It was so dirty," Ms Huppert said.
"It was really awful but that was really our only option because we'd applied for so many places, we'd gone to so many inspections, we'd done everything that we really could."
The web designer decided to move out and wanted to live by herself but couldn't afford it.
After again getting rejected for several places, Ms Huppert has since recently moved into a Clayfield rental with four roommates.
"I didn't have much hope, I was expecting the worst because I just knew how competitive it was last year and I didn't really see why it would change," she said.
"I'm so grateful for the place we have now, and we're trying to do everything we can to keep the real estate agents and owners happy because we know how lucky we've got it and we don't want to have to go back out into the rental market again."
No relief in sight for renters
According to Proptrack, Brisbane's vacancy rate remained tight at 0.86 per cent.
Proptrack senior economist Eleanor Creagh said it was unlikely to improve in the short to medium term.
"With rental conditions continuing to deteriorate throughout recent months it does look like there isn't a meaningful reprieve on the horizon for renters," Ms Creagh said.
"We know that the only sustainable solution to the rental crisis and to this critical shortage of available rentals is an increase in the supply of available rentals.
"But of course this takes time and it doesn't look like there really is a meaningful release valve on the horizon that is going to significantly increase the supply of available rentals anytime soon."
Ms Creagh noted enquiries had fallen in the past year but hot competition for accommodation remained.
Outer suburbs feeling the pinch
While dozens of people were enquiring for properties in the Brisbane region, CoreLogic data revealed the cheapest median rents within 20 kilometres of the city included Ipswich, Logan and Beaudesert where the weekly house price was 19 per cent lower and 22 per cent lower for unit tenants.
Across Australia, capital city rents have spiked 10 per cent in the 12 months to September.
CoreLogic Head of Research Eliza Owen said even previously less attractive suburbs were on the rise.
"Limited availability of stock, a strong net overseas migration position and a normalisation between city and regional population movements continues to place upwards pressure on capital city rent markets," Ms Owen said.
"For those that work or study in the city centre, rent options are looking increasingly thin, and once relatively unpopular areas may be burgeoning with rental demand from high-income professionals."