Renting your first home or upgrading to a bigger property is a huge aspiration. Still, we recognise that millions of renters are stuck with rising prices in a high-demand property market–if this sounds familiar, you’re far from alone in Brisbane’s rental crisis!
Brisbane has never been a cheap city to live in, but rental prices have climbed to new heights in the last few months, with the average rent in Brisbane hiking up 16.9% for houses and 12.5% for units. Brisbane’s house price growth in the last 10 years has also been increasing.
Let’s look at why Brisbane houses for rent are so hard to come by and share some tips about searching smarter, not harder, for your perfect rental pad.
The Brisbane Rental Property Boom
Numerous factors combine to make Brisbane rental properties a sought-after asset, pitching high demand against low property availability to create a perfect storm for renters looking for a new housing opportunity in the city.
- Vacancy rates are rock bottom, at about 0.6%, meaning landlords have the pick of the bunch, can charge higher rents, and be more selective about which tenants they approve.
- Demand is super high, with countless people and families looking for better living standards or more spacious accommodation, with 77% more applicants looking at every listing.
- Brisbane residents know it’s simply a cool place to live, but the secret is out. Increasing numbers of international students and expats add to the competition and make it harder to get in front when an attractive property becomes available.
Brisbane property market trends are still on an upward curve, with a further 9% increase expected this year, but the good news is that experts forecast an 8% drop next year as things cool down.
If you’re looking for cheap houses for rent in Brisbane Northside, you can expect to pay between $350-$400 per week in suburbs like Goodna and Redbank Plains.
Navigating through life in a new city can be challenging, especially when it comes to finding the perfect dwelling place. If you’re a foreigner looking for a home in Brisbane, you might appreciate this comprehensive guide on how to rent a house in Brisbane as a foreigner. It offers practical advice to help simplify the process.
Now, let’s talk about action plans, strategies, tenancy applications, and all those things you can do to get your new keys without breaking the bank!
How to Find an Affordable Brisbane Rental Property
One of the key tricks is to get in quick–if you’ve ever spotted a fantastic listing, taken a few days to think about it, and been knocked back straight away, you’ll know that Brisbane rentals get snapped up fast!
Soho uses AI-powered tech to provide highly relevant property matches that suit your preferences, so you get first dibs on any homes that tick your boxes.
Want to know how to rent a house in Brisbane? Here are a few other tips:
- Try expanding your search outside the CBD–prices on the outskirts are considerably lower, and you’ll get a house with a yard for a much better price in the south suburbs than you would in the centre.
- Check if you qualify for the National Rental Affordability Scheme–if you’re an Australian citizen and live in Queensland, you might be eligible for support with your rental costs depending on your income.
- Get all your ducks in a row–if you’ve got references and a deposit good to go, you’ll be a great prospect for a landlord who wants to rent to a reliable tenant.
If you know what you’re looking for, have a fixed monthly budget, and are struggling to find the right home, it’s best to work with a local property team who can highlight great vacancies before you miss out. Of course, Soho has all the best available listings right in one place–check out our site today to find the perfect Brisbane rental to meet your needs and budget.
