Rockhampton rental market back to healthy vacancy level
THERE are plenty of rental properties up for grabs in Rockhampton, a new report reveals.
The latest Real Estate Institute of Queensland (REIQ) results show Rockhampton is back to having a healthy rental market, with residential vacancy rates sitting at 2.7%.
This is an improvement compared to March last year, which saw limited vacancies in Rockhampton, with vacancy rates sitting at 1%.
Meanwhile, the rental market in Gladstone is weak, with this quarter seeing vacancy rates sitting at 5.9% and Mackay at 6.5%.
REIQ CEO Anton Kardash says Mackay and Gladstone had recorded significant increases in vacancy rates due to less demand for rental properties from mining companies.
Ray White Team Leader Siarni Myers agrees Rockhampton is sitting in a good position at the moment.
"On average, it's taking between 10 to 17 days to secure a tenant," she said.
According to Ms Myers, the average price for a rental in the region depends on where you are looking to live.
"Out in Gracemere a house with four bedrooms, double garage and a large yard will be between $350 to $370 a week.
"While a three-bedroom, one bath and one car garage is going for $350 per week in Rocky."
Ms Myers says the rental market seems to be steady because there's a lot of people moving to Rockhampton for work.
"People are relocating for work, we've seen people from the Gold Coast and even from Cairns," she said.
"There are a lot of properties, tenants aren't being turned away as such."
REIQ Rental Prices
The following are average rental prices around Central Queensland.
Rockhampton - Four bedroom home in Berserker $310 pw.
Gladstone - Four bedroom home in Gladstone Central $575 pw.
Emerald - Four bedroom home in Riverview Estate $500 pw