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Renting in this current market
over 2 years ago
Renting in this current market
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There is much talk around, that it currently is a sellers’ market, which means rental markets across Bundaberg and the region have increased. This is great news for investors and would be investors, but not so for tenants.

Though the demand to purchase in Bundaberg is high, demand for rental is just as strong. Our vacancy rate here in Bundaberg is the lowest that we have seen it and during the COVID period, we witnessed house rents rising at a fast pace.

Though with inflation on the rise and interest rates on the rise, the Bundaberg market is not as ‘hot’ as it once was and homes are on the market just that little bit longer.

We are still witnessing a solid market for investors and a high demand of applications are still coming through for each home we have to rent. Where rental properties might normally take a few weeks to lease, the average time on market is now sitting at 9 days. The prediction is that there will not be sufficient stock coming to market for the near future that will absorb the increase in demand for rental, even though inflation and interest rates are rising. Many investors are holding back to see what the market will do over the next 12 to 18 months.

If you want to know more, speak to our Property Management Team at First National Real Estate Bundaberg.