PRICE RISE: In good news for landlords, rental prices are rising around CQ.
PRICE RISE: In good news for landlords, rental prices are rising around CQ. KentWeakley

ANALYSIS: Mixed performance for CQ's rental properties

RENTAL prices are on the way up around Central Queensland but the best results are out west according to Bella Exposito.

The latest results published by REIQ's Queensland Market Monitor comparing rents in paid in September 2018 with September 2017, with the results painting a mixed picture of the varying economic activity and employment of towns and cities around our region.

Locally, Rockhampton and Livingstone's improving vacancy rates have lead to $10 increases to rents over the year with Rockhampton averaging $280 per week and Livingstone $300 per week.

Gladstone recorded a better result with their rent rising $30 over the year to $220.

Thriving on the back of increasing employment and mining activity over the past year, Mackay's rent jumped by $40 per week to $340.

But it was the Isaac and Central Highlands regions that were the star performers in the rental statistics.

On average Isaac rose $40 per week over the year but certain townships recorded better results than others with Clermon rising $25, Middlemount $50 and Moranbah topping the region with an $80 increase in average rents.

After 32 years in the real estate industry, Moranbah Real Estate Principal Ms Exposito said the rental market was clawing back some of the significant losses they sustained in the downturn when over 300 properties sat vacant.

"(The market is) just starting to move. We're increasing rents up to $50 to $100 per week but starting at $30," Ms Exposito said.

"It's not a boom yet, the sales part is very quiet but the rental market is moving beautifully.

"We don't have many properties to rent, we have 13 left and there's about 39 (total) in Moranbah."

With some rentals starting at an affordable $180 per week, Ms Exposito said some people were moving back to the region.

She said there was a lot of positivity about the future thanks to the turn around in the rental market

"A lot of people are moving into Moranbah now, compared to two years ago when they were fly-in fly-out," she said.

"Families are moving in which is good news for the community.

"It's an improvement for us and the investors as well because their properties are getting rented and we don't have a lot of vacancies."

At the height of the boom, she said renters were paying up to $4000 per week for an executive four bedroom property.

When the market crashed, these properties rented for $350 per week.

With the market was on the way back, executive property rents were increasing by $150 to $200 up to approximately $700 per week.

"It is supply and demand and at the moment, when there isn't a lot of good supply, there's a lot of demand," she said.

She said increasing employment from local mine projects, combined with changes to FIFO arrangements, were encouraging workers to move to the region with their families.

"From January, I think we had about 17 people move to Moranbah to live here instead fly-in fly-out or drive-in and drive-out," Ms Exposito said.

"Because if you have family, it's very hard without both parents around.

"I think you can only take on FIFO for so long, you do get sick of camp food, and at least they get to see their children at the end of the shift."

Ms Exposito said it wasn't just Moranbah prospering but "all around the Central Highlands was moving".

In the Central Highlands, the QMM report identified an average rental price rise of $30 per week with Blackwater rising $35 and Emerald a healthy $45.

In the two years, Kahla Button has worked as a property manager for Emerald's LJ Hooker managing over 300 properties, she's seen the market gradually fight its way back.

She said over the past year, a four bedroom property which was averaging a rent of $300 per week was now collecting $350 per week.

"From what we're seeing with people applying, there's a lot of new families moving to the area for work," Ms Button said.

She said it wasn't solely mining roles that was drawing people to the region and she remained optimistic that the trend of growth would continue.



OPINION: ‘Mistake of fact’ defence rape laws need balance

premium_icon OPINION: ‘Mistake of fact’ defence rape laws need balance

Rcent rape trail in Rockhampton shows need for balance between keeping “mistake of...

Rape ‘mistake of fact’ defence leads to man found not guilty

premium_icon Rape ‘mistake of fact’ defence leads to man found not guilty

A YOUNG Central Queensland cowboy was this week acquitted of rape after...

Music festival 'drug overdose' fear as pair go to hospital

premium_icon Music festival 'drug overdose' fear as pair go to hospital

Two Sunset Sessions patrons suffer suspected substance abuse.