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The hardest suburbs to find a rental in central Queensland

Words: Geordi OffordProducer: Veathika Jain

Regional Queensland continues to be hot property as thousands of southerners migrate north to the Sunshine state, tightening the rental market.

Well Home Loans released a report of the top 20 suburbs around Queensland where it’s hardest to find a rental and Yeppoon, Wandal and Allenstown are on the list.

Yeppoon came in at number 10. With a vacancy rate of 0.18 per cent and an average weekly rent rise of $90 in the past 12 months, properties in Yeppoon last just 12 days on the market.

Wandal, which came in at number 12, had rent prices rise of about $70 in the past 12 months. Rentals on average spend 14 days on the market.

One of South Rockhampton’s most popular suburbs, Allenstown, came in at number 15 with rents rising by $60The suburb's vacancy rate is 0.78 per cent.

Well Home Loans CEO Scott Spencer said there were two different stories playing out in the 20 suburbs, with investors in a strong position and tenants in a weak position.

Scott SpencerWell Home Loans CEO   

All the suburbs in this report are in areas with very low vacancy rates, so even if tenants were prepared to move one or two suburbs along, they’d still find it hard to secure accommodation. That gives investors considerable market power.

He said tenants in the listed suburbs might instead consider buying, especially if rents had increased to a point where they were now more expensive than mortgage repayments.

Original URL: https://www.couriermail.com.au/web-stories/free/the-morning-bulletin-rockhampton/the-hardest-suburbs-to-find-a-rental-in-central-queensland