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Rental Vacancy in the Redlands

By Cathy Pieroz
“Vacancy levels decreased in the Redland City region overall, now at 1.2% as at the end of March. On the mainland, vacancy rates fell to 0.9%, as REIQ accredited agents have found that demand has been higher than normal, and new tenants were being approved even before the previous tenant had vacated.

“Even though the academic calendar is in full swing, the Brisbane rental market remains competitive with about two to five applications per rental listing,” said REIA chief executive Anton Kardash.

“Part of the reason why the market is certainly a case of more demand than supply is that first home buyers are largely remaining on the sidelines of the sales market following the removal of the First Home Owners Grant last year.”

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