[Australia Rental] Brisbane rents soar: highest in Australia, supply shortages are serious

[Australia Rental] Brisbane rents soar: highest in Australia, supply shortages are serious

As the capital city of Queensland, Australia, Brisbane has attracted widespread attention in the rental market in recent years. According to the latest data, Brisbane’s annual rent increase has reached 8.3%, making it the city with the highest rent increase in Australia. The rental market has worsened as housing supply has become increasingly scarce, putting many potential tenants under greater financial pressure.

According to a report by REA Group, a global online real estate advertising platform, the median rent in Brisbane has risen to A$650 per week as of the first quarter of this year. This figure not only shows a continued upward trend in rental prices, but also reflects strong market demand. The report said Brisbane’s strata rents rose 5.2 per cent annually, while house rents rose 3.1 per cent. These data show that as demand continues to increase, rents are still rising, putting a heavy financial burden on tenants. In regional Queensland, rental increases were also quite high. The median weekly rent in these areas is $650, the highest in regional Australia. As the cost of living rises, many families and young professionals choose to rent in these areas, further pushing up local rental levels.

According to analysis by PropTrack senior economist Anne Flaherty, Queensland is now second only to Western Australia in terms of housing supply shortage. Statistics show that last year Queensland’s new housing supply was 39 per cent short of demand, compared with 45 per cent the year before. This imbalance between supply and demand has led to rising rents while also limiting tenants’ choices in the market. Flaherty pointed out that in order to meet the progress of the infrastructure and surrounding facilities for the 2032 Olympic Games, a large number of construction engineers were hired to related construction projects, which greatly affected the progress of residential construction. Therefore, as preparations for the 2032 Olympic Games accelerate, the demand for infrastructure construction is gradually increasing, which undoubtedly brings greater pressure on the supply of new housing.

Although the rate of rent increases this year has slowed compared to 2022-2023, the rental market is still accelerating. The economic strength and improved infrastructure in regional Queensland have attracted a large number of tenants, and these factors have jointly driven up rents. According to CoreLogic data, demand for homes in the suburbs has increased by 12.6 per cent over the past year, while demand in the city centre has increased by 6.5 per cent. This phenomenon shows that more and more people want to live in natural environments in remote areas, while driving economic activity and property markets in Brisbane’s suburbs.

The rental problem in Brisbane and its surrounds will not be solved in the short term. With the population growth and the continued increase in market demand, rents are likely to continue to rise, which is undoubtedly a big challenge for tenants and young families. Therefore, the local government has also introduced policies to support first-time home buyers and young families to cope with the pressure of continuous rent increases.

Cheong Mei Australia Property has more than 10 years of real estate experience in Brisbane and fully understands the dynamics and needs of the local market. Business Development Manager Betty has been committed to finding high-quality properties and Hong Kong and Macau customers for many years. Our professional team provides you with a one-stop service to help you find your ideal home in this challenging market. If you want to know more about Australian property investment, immigration and further studies, please contact Cheong Mei Australian Property. Betty hopes that you can realize your dream of buying a property in Australia.

【澳洲買樓】買樓比租樓真的更慳錢嗎? 2025 年布里斯本升學與移民的最佳策略

According to the latest data from Domain, an authoritative real estate platform in Australia, it is expected that by 2025, the price growth of stratified units in major Australian cities will exceed that of detached houses. Nicola Powell, head of economics and research at Domain, pointed out that this trend will bring new trends to the real estate market, especially for new buyers who are interested in buying a home, because the prices of stratified units (Apartments) and garden villas (Townhouses) are still relatively attractive to buyers.

Powell noted: “Historically, former houses have generally outperformed strata units in terms of capital growth. However, nothing is absolute and by 2025, we expect strata units in Brisbane, Australia, to outperform houses, which is a rare occurrence.” According to Domain’s year-end summary report, house prices in Brisbane are expected to rise by 5% to 7%, while strata unit prices will rise by 7% to 9%. This makes Brisbane one of the only major cities where strata unit values will grow faster than houses, while strata unit and house values in other cities will grow at similar rates.

Powell analysis points out that this trend will make strata units more attractive for shopping, especially for young buyers to enter the market more convenient. For first-time homebuyers, this will provide opportunities for capital growth and help open their investment path in the real estate market. In contrast, as the price of detached houses continues to rise, the pressure on first-time homebuyers to buy detached houses is gradually increasing. Therefore, it is expected that the growth trend of strata unit values will encourage more people to consider strata units as the first choice for entering the real estate market.

In the past, the Australian real estate market preferred detached houses, reflecting the desire for traditional detached houses and land. However, with the economic pressure and changes in population structure, stratified units have gradually become the mainstream choice. In addition, some buyers have also begun to choose townhouses to replace independent houses with land. If you want to know more about the real estate market in Brisbane, Australia, please contact Betty, Changmei Australia Property, to get the latest market information!