REIQ calls for government help as vacancy rates remain low
A statewide report has revealed Rockhampton’s residential vacancy rate remains low, recording a 0.2 per cent increase over the previous quarter.
According to the current vacancy report, released by the Real Estate Institute of Queensland, Rockhampton’s vacancy rate is at 0.4 per cent, which is up from 0.2 per cent in December.
Livingstone recorded a 0.5 per cent vacancy rate, while Banana recorded 0.7 per cent, Central Highlands recorded 1.1 per cent, Gladstone recorded 1.2 per cent, and Mackay recorded 1 per cent.
The report revealed 70.2 per cent of the state’s rental vacancies remained under 1 per cent.
REIQ chief executive officer Antonia Mercorella said the most pronounced rental demand that far surpassed available vacancies was being seen across regional Queensland.
Ms Mercorella called on the Queensland Government to take immediate action to resolve the current rental crisis.
“No support measures were announced for the established housing sector in last year’s state budget,” she said.
“The rental sector plays a critical role in Queensland’s housing system and the role and size of our investor market has never been so important.
“The Queensland Government say they want to help households’ transition from community housing to housing in the private rental market.
“Given that, more needs to be done to better support both increased and ongoing property investor activity in the Queensland property market and the contributions they make to the state economy.”