Tight rental market leaves agents with ‘nothing to give’
Would-be tenants are being turned away across the Coast as agents struggle with the lowest vacancy rates the region has seen in years. SEE HOW YOUR AREA COMPARES
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Would-be tenants are being turned away across the Sunshine Coast as agents struggle with the lowest rental property vacancy rates the region has seen in years.
LJ Hooker Twin Waters property manager Nicole Wilson said for the first time in years, the area had a zero per cent rental property vacancy rate.
"We've got loads of people, qualified tenants, looking to move to the area, but we've just got nothing to give them," she said.
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Ms Wilson said tenants came into the office at least once a day hoping to find a home, but agents were forced to turn them away.
"A lot of people are ones that we've dealt with in the past that have lived in Twin Waters before and want to stay in the area," she said.
"People love the area and they don't want to leave, but there's nowhere for them to go."
She said areas within the 4564 postcode, including Marcoola, Mudjimba and Pacific Paradise, were all experiencing the same high demand for rental properties.
According to SQM Research, the postcode's rental vacancy rate plummeted from 2.7 per cent in April to 0.2 per cent in July. It hasn't been this low in more than 15 years.
Ms Wilson said many renters had moved to the Coast since the COVID-19 pandemic onset to find a save haven for the virus, which could have affected the number of properties available.
She said as of August 13, the average rental price for a house in Twin Waters was $710 per week, while tenants would pay $570 for a unit.
SUNSHINE COAST RENTAL VACANCY RATES
- 4551: 0.7 per cent
- 4556: 0.9 per cent
- 4557: 0.7 per cent
- 4558: 0.6 per cent
- 4559: 1 per cent
- 4560: 0.3 per cent
- 4561: 0.2 per cent
- 4562: 0.8 per cent
- 4563: 0.4 per cent
- 4564: 0.2 per cent
- 4565: 0.4 per cent
- 4566: 1.2 per cent
- 4567: 1.3 per cent
- 4568: 0.8 per cent
- 4569: 0 per cent
- 4572: 0.5 per cent
- 4573: 0.7 per cent
- 4575: 1.1 per cent
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