Property Investors enjoy secure returns as Gold Coast records low Rental Vacancies

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Property Investors enjoy secure returns as Gold Coast records low Rental Vacancies

The Gold Coast market is experiencing a tightening rental availability of houses, villas, and apartment with median vacancy rates dropping from a peak of 10% in May to the low of 0.3%.

While the regional property market is experiencing an increase in activity, Queensland’s quarterly rental vacancy rates show 100% of the state’s regions have experienced a drop in vacancies, according to vacancy data released by the Real Estate Institute of Queensland (REIQ).

Figures for July to September show the Gold Coast’s southern areas recorded some of the lowest vacancies, with an extremely tight median of 0.3%.

Suburbs at the southern end of the Gold Coast include Burleigh Heads vacancy rate which hit 0.4%, Coolangatta 0.2%, Currumbin 0.6%, Palm Beach 0.1%, and Miami 0.4%.

Moving west on the Gold Coast, the vacancy average has dropped from 2.2% to 1%.

The suburb of Mudgeeraba recorded a tight 0.4%; Nerang 0.5%; and Oxenford 0.3%.

On the northern end of the region, the median vacancy is 1.3%, down from 3.2% in areas including Coomera at 0.7%, Helensvale 1.6%, Hope Island 1.6%, Southport 1.5%, Pimpama 0.4% and Upper Coomera 0.7%.

And the glitter strip’s downtown Surfers Paradise precinct has recorded a drop from 5% to 2.1%, for the first time in two years.

The latest lending figures from the Australian Bureau of Statistics (ABS) for September show more than $5 billion worth of new investor loan commitments were recorded.

Last Monday’s ABS statistics show new loan commitments for property investors increased by more than five per cent in September, following a 9% jump in August.

The data below just goes to show that Queensland is obviously a favoured region for Australians wanting to exit southern states for a safer, warmer, cleaner environment that offers huge lifestyle improvements, and these rate cuts will assist the migration to Queensland.

Source: ABS, REIQ, RBA, CoreLogic