As per the new property report released – “Australia’s southerners are shifting to the northern part of the country like Brisbane and Queensland.” It has been observed that the Brisbane and Queensland rental vacant properties are filling up fast as the demands are rising. Whereas the nation’s largest city Sydney is having more empty houses though property owners are trying well to hold the tenants, by lowering the rental amounts.
The report stated the facts are – Brisbane rental vacant property rate fell to 2.9 percent in July which is continuously falling from the last 5 months. It is estimated that in Sydney 20,000 residential homes are vacant whereas in Brisbane these numbers are around 9000, which is comparatively very low. Despite low vacant properties, the rental rates are firm in the Brisbane. As the demand is rising every day the vacant property ratio is declining.
The asking rates in Sydney are still highest in the Australia i.e $707 a week for a house with three bedrooms. Though the vacancy rate in Sydney is recorded the highest in the last 13 years. Where the number of vacant houses are more.
The property valuers Brisbane figure out the reason behind leaving the Sydney is – “People now are moving in the northern areas to find more affordable housing, better standard of living and in the search of better job opportunities”.
The research says – “12 percent rise in demand for rental properties in Brisbane in the past 12 months”. Showing these figures the experts say the surplus rental property in Brisbane will soon be occupied in next one year.
The Brisbane economy has been improved and better jobs are available whereas the Queensland economy is also recovering.
The prospect renters are more interested in these suburbs of the Brisbane like – Holland Park, Newmarket, Greenbank in Logan, Camphill, Windsor of Brisbane. The Brisbane is well on the demand of the renters. So it’s not surprising to see the fall in vacancy rates.
The properties in Sydney are expensive, rents are high, sick traffic which makes life miserable in Sydney, according to the people who are leaving and want to leave Sydney. People want to live in the place where they can afford a house with a secured job and where they can enjoy the quality life. The main reason behind the leaving Sydney is people are feeling stressful there, to maintain the work-life balance is becoming difficult for them. Whereas they are feeling more comfortable and getting the quality life in Brisbane and Queensland.
Whether you are selling or renting your property in Brisbane or anywhere in Australia, getting the experts advice is the great way to move ahead. First, know the property value via opting property valuation services and then decide the rental amount or selling price of your property.
If you are looking for the best property valuers in Brisbane, then feel free to contact our expert property valuers Brisbane they are always feel happy to assist you.