The Urbis Inner Brisbane Apartment Rental Review found that new developments are out-performing older, established projects with lower levels of amenity.
The Real Estate Institute of Queensland (REIQ) reported a higher vacancy rate of 3.6 per cent for the total Inner Brisbane rental market over the same period.
Urbis Associate Director of Property Economics and Research Paul Riga said that the indicative vacancy rate of 2.3 per cent for new apartments is a slight increase on the September quarter 2016, which recorded 2.2 per cent.
“Given that 2016 has seen the highest number of new apartments to ever settle within Inner Brisbane, this is a positive result,” Mr Riga said.
The report, which surveyed 23 projects containing over 4,000 apartments, found that close to 50 per cent of renters in the new projects had moved from Middle and Outer precincts of Brisbane, and increased choice, competitive rents and desirable locations were driving…
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