Challenges of Finding Rental Properties in Brisbane: A Tenant’s Perspective

The rental market in inner Brisbane is becoming increasingly competitive, with young professional Josh Frew sharing his experience of inspecting 43 apartments before finally securing a unit in Bowen Hills. Frew described the process of finding a rental property as akin to applying for a job, emphasizing the challenges of the current market where prices have skyrocketed.

Frew noted that the median unit price in Bowen Hills has increased by over 24% in the past year, reaching $560 a week. He highlighted the struggle of having to adapt to the rising costs of rent, forcing many people to cut corners in other areas of their lives.

Despite the difficulty, Frew was able to secure a rental by treating the search process like a job interview, going above and beyond to demonstrate why he would be a good tenant. He emphasized the importance of standing out in a crowded market where available properties are scarce.

Business Development Manager & Partner Lisa Perruzza from Place Estate Agents Bulimba and Camp Hill echoed Frew’s sentiments, expressing concerns about the impact of the state’s rental reforms on investors. Perruzza emphasized that the current laws are deterring investors from entering the market, leading to a decrease in rental supply.

With predictions of interstate migrations to Brisbane on the horizon, Perruzza warned that the housing supply could worsen if action is not taken. She noted a significant decrease in rental listings compared to usual, indicating a growing imbalance between supply and demand in the rental market.

As renters struggle to find available properties and landlords face uncertainty in the face of new regulations, the rental market in Brisbane remains a challenging landscape for both tenants and investors alike.