Low investor participation is seeing vacancy rates in Queensland tighten.
The REIQ has reported vacancy rates in Queensland have fallen in the September quarter. The organisation said five local government areas in the state recorded a vacancy rate of less than 2% in September, up from just two at the end of June.
REIG managing director Dan Molloy said weak investor participation was behind the tightening vacancy rates.
"“The number of investors in Queensland continues to be below historical averages. What this means is that there is not the usual number of investment properties being added to the overall rental pool, which is putting a strain on supply," Molloy said.
Molloy expressed optimism that the Reserve Bank rate cut, along with soft property prices, could begin to woo investors back. However, Molloy indicated many renters are unwilling to move into the property market, further exacerbating the state's low vacancy rates.
"Many renters are also opting to stay put, perhaps due to the ongoing economic uncertainty, which is also have an impact on supply," Molloy said.
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out