Statistics

Vacancy Levels take a tumble

Rental vacancy levels for Gold Coast homes have shown a significant fall in the latest quarter and indications are the lower level could be sustained over the next 12 months, according to valuers Herron Todd White. The September quarter figures show vacancy levels for houses have fallen to 5.2 per cent from 6 per cent, in the corresponding period last year. Unit rental vacancy rates are down to 6.9 per cent, from 7.5 percent in the previous corresponding period.

Kerry Young, researcher with HTW, says the September quarter figures show the input of new stock by developers is in balance with demand from the rental market. "HTW Research expects little change to occur in the rental market over the next 12 months," she says. "Vacancy rates should remain at current levels despite the addition of new housing stock, which is predominantly sold to investors." Ms Young says little change should be expected in rental accommodation in areas where supply is tight. She says beachside areas are in greatest demand, while areas to the west are likely to have higher vacancy levels.

Residential Property Market Gold Coast (currently being updated)