​"WHAT WE DESPERATELY NEED IS MORE RENTAL STOCK"

QLD’s rental crisis has reached critical, almost catastrophic levels. This is after a surge in population in the last two years, where the state welcomed more than 50,000 domestic migrants. Now that borders are open again, the influx of international arrivals is expected to add additional strain to an already limited housing supply.

In Brisbane and Gold Coast, vacancy rates tumbled to their lowest levels in over a decade, to 0.7% and 0.4%, respectively. The plummeting rates, due to high demand and little-to-no supply, have sent rental prices soaring across the region.

Greater Brisbane has seen average weekly rents rise from around $395 a week in 2018 to $460 this year. On the Gold Coast, those figures have jumped from $450 a week to $590, a surge which has forced people from their home towns and into caravans, sheds and poverty. (Source: 9News.com.au: Surge in Queensland rental demand pushes historic price highs)

“The prices won’t come down until there is a considerable amount of new stock on the market,” says APFG CEO Matt Sully. “Right now, new developments are selling out almost as soon as they hit the market, and developers can’t get their lands registered fast enough.”

Hope is on the horizon, as budget approves funding for new housing & infrastructure

Queensland officials are well aware they have a crisis on their hands, and last week’s release of the State Infrastructure Strategy outlined a whopping $59.1 billion plan, primarily focused on sustainability, affordable housing, innovation, and improving infrastructure delivery.

Within the strategy $200 million has been allocated to proactively address housing land supply challenges in the south-east. Almost 50,000 residential lots are being unlocked in south-east Queensland, a process that started in 2020.

“Property investors could not be happier at the moment. Those buying House & Land packages are seeing their property values increase almost immediately, before the first brick is laid,” says Sully. “And then there is a waiting list of tenants ready to move in the moment the homes are ready,”

See More: Co-living properties can rescue Australia from the crushing rental crisis

“If you can get your hands on new House & Land or Co-living properties, jump on it, and fast!”

APFG has a selection of brand new House & Land and Co-living properties available now. Talk to your team today to secure yours, and ask about our ultra-low Owner-Occupier rates.