Tuesday, January 20, 2015

Houses lead rents higher

Latest quarterly data from the Residential Tenancy Authority consolidates Cairns position at the top of the NQ rental costs table based on new rental bonds lodged. Median house rents in Cairns pushed higher in the December quarter while Townsville remains soft and Mackay continues to decline.

Not so much in the unit sector where the median rent in the December quarter was flat on the previous year in Cairns.

Mackay investors must be particularly disillusioned after their successful legal challenge was legislatively overturned by Crisafulli last year leaving them also with a highly unfavourable council rates structure.

Another example of significant demographic variation between the local state electorates with the proportion of rental households based on 2011 census:

Cairns            48.1%
Barron River  33.5%
Mulgrave       36.4%
Queensland    33.2%

Note: Cairns will also be far more heavily weighted to units. Previous post: Cairns rents fit for a King

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