Sunshine Coast Rental Market Tightens
The REIQ Market monitor for the December quarter was recently released indicating a tightening across rental markets unprecedented in recent periods.
Traditionally the Summer months are the busiest time for the Sunshine Coast Rental Market, for not just the holiday property managers but the rental property managers as well – extra volumes of holiday makers take the steps of relocating to our coastal paradise whilst the water is balmy and the beach beckons.
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Sunshine Coast Rental Market Vacancy Rate
The vacancy rate for December was 1.7 %, a significant change on availability in recent years. Three and four bedroom homes close to good schools are in high demand, and rental returns are up on the same period from 2011.
A vacancy rate anywhere under 2% indicates generally to investors that it’s a good time to consider investment property in conjunction with other factors such as infrastructure, interest rates and employment. It’s undeniable the investors are returning to the Sunshine Coast market, with average yields sitting at around 4.6% for houses and 4.8% for units. The median weekly rental price for the Sunshine Coast rental market is $380 per week.
