Brisbane Rentals.  Tenants are still on the rise.

Brisbane Rentals. Tenants are still on the rise.

Rental Demand Is Skyrocketing Rental Prices As Brisbane Becomes Second Most Expensive City To Rent

Suzana Wade is one of Brisbane’s leading property managers and the principal of Locate Property. Suzana weighs in on the current situation with Brisbane Rentals and the further increase of tenants looking for homes and she gives her opinion on what the future holds for renters and investors.

Median rentals in Brisbane reached a record high of $550 per week last year, making it the second most pricey capital city to rent an apartment, tied with Canberra.

In a record run of rent increases that is exacerbating the rental crisis, the most recent Domain Rent Report for the December quarter, revealed that the median asking unit rent in Brisbane had increased by over 19.6% in the last year.

The combination of rising international migration, a lack of new developments, and declining affordability has left our formerly accessible city second only to Sydney in terms of median unit rents. The report also revealed that rental vacancy rates are still at a nearly all-time low of 0.9%, conditions that are all combining to continue the rental crisis. The fact that Brisbane’s vacancy rates have been below 1% for over two years is particularly concerning.

Domains research claims that after a modest quarterly increase, the inner east area of Brisbane is now the most costly place to rent a home, at $758 per week. After a 1.5% increase, the city’s CBD is the most expensive area for apartments, at $650 per week.

Another factor impacting rental demand is that Queensland has one of the strongest rates of population growth across the country at 2.3 percent. With the total population of Australia growing by eight million people in the last 25 years.

Domain chief of research and economics Dr Nicola Powell stated that an easing of the rental crisis may come, especially in the unit sector, by promoting investment activity and expanding government and public housing. But due to the current shortage of supplies across the country, demand will remain high for the unforeseeable future. 

Meaghan Scanlon, the housing minister for Queensland, commented on the national housing crisis last year, commenting on the highly competitive market, and historically low rental property vacancy rates contributing to the near 20 percent increase in rent for tenants over the previous 12 months.

That is in addition to all the other elements that emerged during the pandemic, such as abnormally high migration, problems with the availability of land and buildings, and elevated demand. Ms Scanlon pointed out that the impact the current state of affairs is having on younger generations makes it feel especially dire.

I will continue to keep Brisbane investors, renters and those looking to enter the Brisbane market informed and prepared to best navigate the continuing challenges impacting us all.

Suzana Wade is a leading authority in the Real Estate industry in Brisbane, particularly in Property Management sector and has been voted as Brisbane’s best property manager. For further advice and insights into Brisbane Property Management you can contact Suzana Wade HERE

You can also keep up to date with the latest resources for both investors and tenants in Brisbane through REIQ

Brisbane property market 2024.  What does it look like ?

Brisbane property market 2024. What does it look like ?

There is no one better than Suzana Wade, principal of Locate Property, to talk about what the future holds for the Brisbane property market in 2024.

It has been a dramatic rollercoaster ride for all property markets around Australia but in particular the Brisbane property market, with recent growth of over 45% through 2020–2021.

A small retraction was experienced since its peak in the earlier 2022 year but the buying pressure remained and due to a significant lack of stock, prices once again rebounded over 11% through February this year.  

Investors and home owners are still looking for the locations that provide the best bang for the buck, such as the Brisbane Olmypics and recent large-scale infrastructure projects such as Queens Wharf Casino. Is it any wonder that Brisbane is still at the top of the list for anyone still shopping for property hot spots? Remember, Brisbane still has a median price point of just over 60% that of Sydney

This shows that the city is growing while still being affordable. This mix makes the city a better place for buyers and investors to live. As the need for A-grade homes and investment-grade properties grows, Suzana Wade’s experience in the property management Brisbane market backs this up.

At the moment, these are Brisbane’s median home prices:

  • All homes in the capital city: $779,270 (Change every month: 1.3%; change every three months: 3.9%; change every year: 10.7%)
  • Houses in the capital city are now worth $870,526 (up 1.4% month-to-month, 4.1% quarterly, and 10.6% yearly).
  • $552,332 for capital city units (1.0% change every month, 3.1% change every three months, and 11.3% change every year)
  • Regional dwellings: $605,256 (Monthly change: 0.8%, Quarterly change: 2.5%, Annual change: 7.2%)

The resilience of the market prompts the question: What attributes contribute to such robustness?

Internal migration, particularly the influx from Victoria and NSW into Queensland, drives the demand for more affordable properties in lifestyle-centric suburbs.

Despite being one of the nation’s strongest states, Brisbane offers greater value for money compared to Sydney and Melbourne. Significant interstate migration continues to benefit Brisbane. Federal government forecasts indicate Queensland’s population is expected to grow by over 16% by the time Brisbane hosts the Olympic Games in 2032.

The projections foresee a population shift towards Greater Brisbane, with most Queenslanders likely to reside in this region during the significant Brisbane Olympic Games. The growth disparity between Greater Brisbane and the rest of Queensland is apparent, with faster projected growth rates for the capital.

As of 2021–22, over half of Queenslanders lived outside Brisbane. However, the forecasted growth rates hint at a reversal, with an anticipated majority residing in the capital by 2032–33.

Forecasts for Brisbane’s housing market paint a diverse picture, akin to having one hand in hot water and the other in cold water. Some properties have remarkably outperformed others, notably freestanding houses within 5-7 km of the CBD or within esteemed school catchment zones, witnessing substantial value appreciation.

Notably, Westpac’s projections for Brisbane foresee five years of remarkable real estate growth, estimating around 43% growth by 2025. In comparison, Sydney and Melbourne are expected to experience 36% and 33% growth, respectively.

The demand for detached houses in Brisbane’s inner and middle-ring suburbs, coupled with a burgeoning interest in lifestyle areas, positions these locales to outshine cheaper properties in the outer suburbs. Meanwhile, the demand for apartments might remain subdued, while townhouses in Brisbane’s inner suburbs gain favour among more Queenslanders.

However, it’s crucial to acknowledge the divergence in growth potential across Brisbane’s various locations. While some exhibit strong growth prospects, certain submarkets might not be conducive to investment.

The evolving trends suggest a shift towards properties offering “pandemic appeal,” emphasising attributes like space, security, and a liveable environment. Factors such as proximity to amenities, good schools, mobility, and job accessibility are increasingly becoming priorities for buyers.

For those in stable financial positions, the current climate presents a favourable window to invest in Brisbane’s housing market. The shortage of A-grade homes and investment-grade properties, coupled with a surplus of buyers, tilts the market in favour of sellers, potentially leading to further asking price hikes that translate to future sale price increases.

All in all, it is still a seller and landlord market, and Brisbane property market 2024 shows no immediate signs of slowing, says Suzana.  

Brisbane rental properties shows no signs of slowing

Brisbane rental properties shows no signs of slowing

Suzana Wade, Principal of Locate Property, presents the latest insights into Brisbane rental properties located within the greater Queensland market amid the ongoing housing crisis.

Recent data from property research group Proptrack has unveiled a staggering trend: rental properties in Queensland are capturing an overwhelming interest, with more than 120 inquiries per property on average. Notably, the top 10 properties attracting the highest number of inquiries, as reported on realestate.com, are all nestled within Brisbane.

Of these Brisbane rental properties, a residence situated in Bowen Hills, an inner-city suburb with a median rent of $520, garnered a notable 127 inquiries, showcasing the high demand in prime locations.

Interestingly, the fervor for properties extends beyond the city center, with suburbs like Loganlea, Richlands, Berrinba, and Doolandella each receiving over 100 inquiries for individual properties. Notably, both West Ipswich and Ellen Grove saw a considerable influx of around 120 inquiries per property.

The classification of inquiries encompassed engagements with real estate agents or interactions with the property advertisements, according to the data.

This surge in demand doesn’t come as a surprise to locals like Clayfield resident Shoshana Huppert, who faced numerous rejections for rental applications in the previous year. Huppert shared her experience of settling for a townhouse with friends due to prior rejections, highlighting issues with its maintenance and cleanliness.

Huppert discussed her ordeal and the difficulties she had finding suitable housing, stating that she had initially wanted to live independently but had to compromise because of cost. Eventually, she found a rental in Clayfield, opting to live with multiple roommates to navigate the competitive rental landscape.

Proptrack’s figures reinforce the tight vacancy rate in Brisbane, standing at a mere 0.86 percent. Senior economist Eleanor Creagh from Proptrack emphasized the persistence of these conditions, indicating an unlikelihood of immediate relief for renters in the foreseeable future. Creagh stressed the pressing need for an increase in rental property supply as a sustainable solution to the crisis.

Expanding the scope, CoreLogic’s data shed light on more affordable rental options within a 20-kilometer radius of Brisbane’s city center, showcasing areas like Ipswich, Logan, and Beaudesert with comparatively lower median rents for both houses and units.

Capitalizing on this trend, Eliza Owen, Head of Research at CoreLogic, highlighted the overall spike in capital city rents across Australia, attributing it to factors like limited stock availability and shifts in population movements between urban and regional areas. Owen pointed out the increasing attractiveness of previously overlooked suburbs, now experiencing heightened rental demand from professionals working or studying in city centers.

These statistics for Brisbane rental properties paint a vivid picture of the intensifying rental landscape, urging stakeholders to consider sustainable solutions to address the pressing housing challenges faced by renters across Queensland.

Brisbane Properties :- Rents are soaring, where are the investors ?

Brisbane Properties :- Rents are soaring, where are the investors ?

Brisbane Properties
Brisbane Properties

Suzana Wade of Locate Property is a local Brisbane property management expert who is on the ground in Brisbane, speaking to tenants every day. Her insight is invaluable when actually trying to ascertain investor sentiment and tenant feedback for Brisbane Properties, and right now is a bad time to be a tenant.  

Property rents are increasing, and vacancy rates are at an all-time low. However, this should be an excellent time to be a property investor. However, why hasn’t this translated to more investors buying right now?  

Tenant demand is robust, rental prices are rising, properties are in little danger of sitting empty, rental returns are strong, and it’s starting to shift to be a buyer’s market in many locations thanks to recent declines in purchasing prices.

However, investors have been noticeably absent from the festivities. According to Australian Bureau of Statistics data, the value of investor lending for homes in February was down 32.6% year over year. Overall, house lending was down 30.9%.

It’s crucial to emphasise that a lack of investors isn’t the only reason for our housing crisis; governments and a lack of development are also to blame (the number of dwelling approvals in February 2023 was down 31.1% from the previous year). 

However, investor participation helps to alleviate the crisis.

The main obstacle, according to PropTrack economist Angus Moore, has been interest rates, which have crushed investors due to limited borrowing capacity and higher mortgage rates. 

repayments just like everyone else. The Palaszczuk government’s new tenant legislation is a close second in terms of the reasons keeping investors out of the Brisbane property market.

Although prices have retracted by on average 5–10% over the last 18 or so months, investing in Brisbane Properties is unquestionably more expensive thanks to interest rates and hidden investment costs. “During the pandemic, we actually noticed more investors selling than buying,” Suzana said. 

“Many people saw their overall wealth decline as a result of falling home prices.” “Also, given the low number of property listings and limited new homes to buy, there hasn’t been a large selection of investment property options for investors to purchase with an attractive price discount incentive.”

Investors for Brisbane properties have the opportunity to profit.

Experts believe the moment is now, with capital city vacancy rates still falling and rental prices rising as housing supply is limited and population growth is high.

According to PropTrack statistics, a vacancy rate of 3% is considered desirable as a market equilibrium between tenants and owners; however, capital cities recorded a rate of only 1.43% in March 2023, down 55% from March 2020 and 0.66% from March 2022.

Sydney and Melbourne experienced the most significant quarterly declines, while Brisbane, Perth, Adelaide, Hobart, the ACT, and the regions experienced modest rises. 

According to the ABS, 303,700 people are predicted to move to our shores in the year ending June 30, 2022; a larger proportion of them than the average population is likely to seek rental accommodation.

Meanwhile, advertised rental prices on realestate.com.au rose 2% nationally in the first quarter of 2023 to a median of $500 per week, representing an 11.1% increase over the previous year and the fastest rate of rent growth since well before the pandemic. 

“Given how tight rental markets are and how competitive they are, we’re seeing rents grow extremely quickly across the country.”

“The only long-term solution is more housing.” “And more investors are purchasing such homes.”

 Investor demand is expected to rise.

According to Warren Hogan, an economic advisor with Judo Bank, the present rental problem would certainly encourage additional investors to enter the market.

“We know there will be a supply squeeze and that the population numbers are there.” Rents will continue to climb, as will rental yields; prices will not fall much further and will most likely begin to rise. 

“This is an excellent time to enter the market for a long-term investment.”

Some investors appear to be in agreement.

Despite borrowing less, their share of all borrower-accepted loans is increasing. 

According to the ABS, investors accounted for 33.7% of all transactions in February 2023, up from 24.2% in February 2021 and 27.3% in February 2020.

Renting in Brisbane – Prices to hit further highs within 12 months

Renting in Brisbane – Prices to hit further highs within 12 months

Renting in Brisbane
Renting in Brisbane

Locate Property’s Suzana Wade predicts that renting in Brisbane is about to get even harder with record rent increases over the next 12 months. According to recent PropTrack statistics, tenants across the nation have another challenging year ahead of them as rental costs rise. According to the data, rentals across the country have increased by 2 percent in the first quarter, to a median of $500 per week.


In the past year alone, rents have increased by 11%, which is the biggest annual increase seen since before the epidemic. Rents in the nation’s capital increased by 4% from the last quarter of 2022 to the March quarter, bringing the yearly increase to an astounding 13%. Meanwhile, rents in the region have climbed by 2.2% from the fourth quarter of 2017 to the first quarter of 2018 (an annual increase of 4.5%).


Particularly in Brisbane but also in Sydney, Adelaide, and Perth, rents are rising “at an extremely rapid pace,” as the paper emphasises. In fact, Perth rents increased by 9 percent in the most recent quarter. PropTrack’s analysts are sounding the alarm that rent increases are likely to persist due to the current tight rental market. Particularly true in nation’s capital, where rent hikes have remained steady since they first began to accelerate in early 2022. As the pandemic has progressed, rent rises have slowed in the regions.


Except for the Australian Capital Territory and remote South Australia, rental prices rose across the country in the March quarter. The Reserve Bank of Australia (RBA) has lately paused its long-running cycle of interest rate hikes, opting to maintain a cash rate of 3.6 percent instead of raising it. However, rising rental costs show little signs of slowing down. Therefore, renters everywhere will be hit even harder than usual this year.

For more articles on trending real estate, click HERE.

First Home Buyers –  Here are the Top 10 Suburbs in Brisbane

First Home Buyers – Here are the Top 10 Suburbs in Brisbane

First home Buyers Brisbane Real Estate
First home Buyers Brisbane Real Estate

Suzana Wade, a Brisbane real estate expert and principal/licensee at Locate Property, has seen firsthand how rapidly the Brisbane landscape has changed, especially for first-home buyers looking to enter the market for the first time.

To help make the process easier, Suzana has now published her list of the top 10 suburbs that first home buyers should be looking into when making their decision on how to source an area that will allow them to enter the property market.  

Brisbane is wide and diverse and Suzana’s greatest advice for first home buyers is be flexible, this isn’t your forever home, this is your first home.

Ripley

About 40 kilometres west of Brisbane’s CBD is the developing suburb of Ripley. It’s the ideal combination of metropolitan conveniences and natural beauty, thanks to the abundance of parks, lakes, and hiking trails. Single-family homes in Ripley cost about $440,000 on average, while a unit will cost about $295,000 on average.

Ipswich

Ipswich, a historic suburb of Brisbane, is located 40 kilometres west of the city proper. It has easy access to major roads and public transportation, and it is home to both historical sites and modern amenities. Houses in Ipswich cost about $330,000 on average, while apartments cost about $235,000 on average.

Caboolture

Caboolture is a developing suburb 45 kilometres north of Brisbane’s central business district. An up-and-coming suburb of Brisbane, just a short drive from the Sunshine Coast’s idyllic beaches. The area is rural and charming, with plenty of parks, shops, and schools. The average apartment price in Caboolture will run you around $210,000, while a house will set you back around $325,000.

Burpengary

Just 35 kilometres north of Brisbane’s central business district, Burpengary is another promising suburb on the city’s periphery. There are plenty of parks, stores, and schools, and the area has a rural, quaint feel. 10 min Drive to Westfield, Costa & Ikea. The median house price in Burpengary is around $430,000, and the median unit price is around $290,000.

Lota

Approximately 20 kilometres east of Brisbane, along the coast between Wynnum and Manly, you’ll find the suburb of Lota. All the perks of a beachfront location, without the hefty price tag. Parks, cafes, and shops abound in this area, making it feel like both a suburb and a beach town. In Lota, an apartment will run you about $380,000, while a four-bedroom house will set you back around $660,000.

Logan

About 20 kilometres south of Brisbane, in a diverse and increasingly desirable suburb known as “Logan,” As the neighbourhood undergoes gentrification and becomes a more viable option for first-time homeowners, this is a great choice. It combines the conveniences of suburban life with the beauty of nature by providing access to numerous parks, lakes, and hiking trails. In Logan, a one-bedroom apartment will set you back about $255,000, while a four-bedroom house will set you back about $380,000.

Kippa Ring

Approximately 26 kilometres north of Brisbane, in the Moreton Bay Jurisdiction, the family-friendly suburb of Kippa Ring has been Brisbane’s top performer for many years. It’s got all the conveniences of a suburb and the allure of the coast, like good parks, stores, and institutions of higher learning. Kippa Ring has a median house price of $477,500 and a median Unit  price of $360,000.

Redbank Plains

Approximately 30 kilometres south-west of Brisbane’s central business district, Redbank Plains is a developing suburb in the Ipswich Jurisdiction that borders Springfield Lakes. The Cross City Rail Project is important because it involves the extension of a rail line through the suburb and its eventual connection to the Brisbane Central Business District. Redbank Plains has a median house price of about $410,000 and a median unit price of about $290,000.

Narangba

The family-friendly suburb of Narangba can be found about 26 kilometres north of Brisbane’s CBD. This suburb, which has already seen substantial growth, is on the cusp of seeing some massive school projects from the Catholic Church come to fruition, which will completely transform the area. There are plenty of parks, schools, and shopping centres, and the area has a rural, quaint feel. In Narangba, a median house price of $524,000 and a median unit price of $348,000 can be expected to be paid.

Bellbird Park

Located next to Springfield Lakes, the family-friendly suburb of Bellbird Park is often seen as a classier alternative to Redbank Plains, which appeared earlier on our list. It is only 22 kilometres south-west of Brisbane’s central business district, making it conveniently close to a major transportation hub. It’s got all the amenities of a typical suburban area, like parks, stores, and institutions of higher learning, and then some. Bellbird Park has a median house price of around $430,000 and a median Unit price of around $335,000.

For advice on how to secure the right home loan click HERE and for more great advice follow Suzana on her Real estate journey HERE.