New report reveals CQ's fastest growing rental market
NORTH Rockhampton is outperforming the southern side of the river in the latest rental figures released by the Residential Tenancies Authority.
Suburbs in the 4701 postcode showed the average weekly rent for a four-bedroom house rose from $350 per week in June last year to $370 this year.
The 4700 postcode dropped slightly from $350 to $340 per week.
The biggest improver in Central Queensland's rental market over the past year was the Central Highlands where the average rent for a four-bedroom house in Emerald jumped from $300 last year to $360.
Blackwater rose from $300 to $340.
Emu Park and Zilzie average rents for a similar property dropped very slightly by $2 to $288 per week while the rest of the Capricorn Coast increased from $370 to $383.
According to a new analysis by the Australian Housing and Urban Research Institute, more than a quarter of all Australian households are now renting and the trend looks set to continue.
Over the past 10 years, the private rental sector has grown by 38 per cent and is predicted to rise.
The report credited the rise to the long-term decline in access to home ownership among younger and middle aged people due high house prices and a contraction of the social rental sector.
Real Estate Institute of Queensland, Rockhampton zone chair, Noel Livingstone said rents across the region were still tracking slowly with renters in a stronger position than landlords.
He said rents were still low with many properties to choose from.
"Houses seem to rent quicker at present than units," Mr Livingstone said.
"There are no particular price points renting at present. It is a combination of both the lower and the higher depending on renters needs."
In Isaac Region, Moranbah remained steady at $350 while Dysart dropped from $180 to $160.
Gladstone rents, which had been at historic lows increased from $240 to $260 for a four bedroom house over the 12 month period.