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KELVIN GROVE RENTAL MARKET SNAPSHOT

COVID impacted the inner-city unit market with Hotels, & Airbnb forced to convert from short term to long term accommodation making supply far outstrip demand. So, we’re providing facts & data so you can make educated, well-informed & strategic decisions.

STATS:

  • Median Days on Market 46 days vs. Brisbane 23 days

  • Vacancy Rate 4.9% vs Brisbane’s 2.2% (Carseldine 1.1%)

  • Median Asking Rent $402 pw vs Brisbane $400

  • 123 units advertised for rent

  • Median Asking Rents & Indicative Gross Rental Yield down (Image)

KEY POINTS:

  • Supply & Demand Determines Rents

  • Investors Must List At Market Value*

*WHAT IS MARKET VALUE:

“The highest price a Ready, Willing & Able ‘Tenant’ will pay, when not forced to ‘rent’ from a Ready, Willing & Able ‘Investor’ not forced to ‘Rent’ for a property that has been adequately Exposed to the Open Market.” – Spencer vs. The Commonwealth 1907 (‘sales’ references converted to ‘rental’).

PRICING STRATEGIES RENTAL COMPARISON CASE STUDY

  • Expensive rentals take longer to rent, increasing the vacancy period & loss of rent.

  • Higher rent = longer vacancy period = less income, i.e. higher rent = low occupancy = lower yields/returns, e.g. $500 x 48 weeks = $22,000

  • vs.

  • The cheaper a rental is, the quicker it will rent shortening the vacancy period & loss of rent.

  • Lower rent = shorter vacancy period = more income, i.e. lower rent = high occupancy = higher returns/yield, e.g. $480 x 52 weeks = $24,960 ($2,960 more rent)

 

Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.

Investment Regards,

Mark Shorrock

Managing Director & Principal Licensee

Bluestone – Property Management For Wealth Creation

M: 0439 979 095 mshorrock@bluestonepm.com.au

Office Mobile (call or text): 0422 676 416

3/269 Abbotsford Road, Bowen Hills Q 4006

WHY BRISBANE WILL OUTPERFORM AND RECOVER QUICKER THAN SYDNEY AND MELBOURNE MARKETS

There is always someone willing to manage your property cheaper, and you get what you pay for!

The Hidden Costs Of Moving House

 

Should we sell with a tenant in place or vacant?

WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!

WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!

 

Disclaimer The information provided by Bluestone Property Management is of a general nature only and is not intended to constitute legal advice under any circumstances. Individuals should consider their own circumstances before proceeding to rely upon any information provided by Bluestone Property Management. Whilst care has been taken in best practice advice provided, and the information contained in it has been obtained from sources that Bluestone Property Management believe to be reliable, Bluestone Property Management (including its directors, officers, employees and contractors) does not warrant, represent or guarantee the accuracy, completeness or fitness for purpose of that information. Bluestone Property Management (including its directors, officers, employees and contractors) accordingly does not accept any responsibility, liability, loss or damage whatsoever resulting from the use of the information provided. By using the services of Bluestone Property Management, Clients acknowledge that they have read, understood and accepted this disclaimer of liability.