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, … Continue reading KELVIN GROVE RENTAL MARKET SNAPSHOT