“Shocking”: Queensland Police’s Highest Rent in Australia Rises

Realm offers three-bedroom penthouse at PH05/36, PH05/36, Kangaroo Point for $1,900 per week, with free rent.

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Queenslanders have the highest rents, the country has the highest rents, and now the shocking supply will make renters worse.

As of March, Brisbane prices rose the highest percentage of all capitals in a year, up 8.3% – the Queensland region also hit the highest median rents in all regions at $650 per week.

The figures have been released in the latest REA Group Market Insights issued Thursday, which found that median rents in Brisbane rose 3.2% in the March quarter and also hit $650 a week, leaving no relief workers anywhere in the state.

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The five studio units in the Geebung Innes Street, the residence have already landed at $425 a week, including bills, although not available until May 31 this year.

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Those who rented houses have taken a bigger hit in the past year, with prices rising by 5.2% (+3.1%).

Queensland is now the second worst housing supply state in the country, with a shortage of 39% in the last fiscal year, said Anne Flaherty, senior economist at Proptrack.

“Queensland is the second worst state, second only to Western Australia when enough new homes are built to meet the growing population. For example, there was a 39% gap in homes built in the last fiscal year, compared with a 45% shortfall in the year before that.”

Proptrack senior economist Anne Flaherty warned Queensland’s major housing supply is a focus for renters.

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“This accumulated underdeficiency is really creating some horrible situations, even if the upcoming Olympics will actually swallow a lot of labor capital, which means it’s harder to find workers in places where people build houses and look for workers. So there are several factors that might mean that there’s no effort to do this underdeficiency that we’ve seen in Queensland.”

“When we consider the supply prospects in Queensland, there are many reasons to pay attention to,” she said.

“We haven’t built enough homes anywhere yet compared to the homes needed to adapt to population growth.”

The year in March showed: “Brisbane rents are more than any other capital in the past 12 months, while rents in the Queensland area are not far away. Both are seeing an increase of 8.3%”.

Queensland is now inadequate to its housing supply and cannot quickly keep pace with its population.

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“In the Queensland region and Greater Brisbane region, we just haven’t seen enough rents to meet the demand for population growth. Although rents aren’t going to be the 2022-2023 rental rate, it’s still growing very fast.”

She said it was shocking to see the Queensland area median rents are the same as the capital median and Perth median.

“We generally think that the regional market is more affordable than its capital peers, but the fact that we see rents in Brisbane and Queensland areas is quite the same, and this fact comes down to the fact that many regional cities in Queensland are very satisfied.”

“The advantage of many Queensland regional cities is that their economies are relatively large compared to other regional markets in the country. Many things, such as universities, good infrastructure, which is part of why we think Queensland is this difference compared to other states.”

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