"A news report by Propertyology has indentified 16 Queensland locations where rent prices are tipped to soar and Bundaberg is one of them.
This is because of the record low vacancy rates and fierce competition driving up rental prices.
The 16 areas are Bundaberg, Airlie Beach, Cairns, Gladstone, Gold Coast, Gympie, Hervey Bay, Mackay, Maryborough, Noosa, Rockhampton, Sunshine Coast, Toowoomba, Townsville, Warwick and Yeppoon.
The report comes after the Real Estate Institute of Queensland (REIQ) recently revealed that vacancy rates across Queensland remained at record lows, with just 10 of the 50 local government areas having a vacancy rate north of 1 per cent.
But the Propertyology report shows that for those lucky enough to even land a vacant property in the current market, the price of having one could soon be out of reach for many.
And it all comes down to a severe lack of stock.
“For perspective, the total national population increased by 1.5 million over the last five years so one would expect a significant increase in the total volume of dwellings advertised for rent over that period,” Mr Pressley said.
Mr Pressley said that regulatory actions at federal, state and local government levels had been “completely counter-productive”.
“Getting credit approved has been harder, investors have been whacked with an interest rate loading, state governments have introduced new legislation taking fundamental asset controls away from the away from the asset owner.
“Property managers all over Australia continually tell us that lots of landlords are selling out of the market because they’ve had a gutful of new legislation introduced by state governments.”
“Queensland needs additional housing supply to ease these tight conditions and accommodate the masses relocating to the state – and this supply simply can’t come soon enough”