Rental va­can­cies re­main tight

Port Douglas & Mossman Gazette - - FRONT PAGE -

RESEDENTIAL rental va­can­cies have re­mained tight across Queens­land, with the Cairns re­gion num­ber drop­ping by 0.2 per cent from June to 1.7 per cent for Septem­ber. The re­cent fig­ures re­leased by the Real Es- tate In­sti­tute of Queens­land com­piled from REIQ ac­cred­ited agen­cies and agents sug­gested there is more de­mand for rental prop­er­ties in the lo­cal re­gion. The re­cent re­port sug­gests a va­cancy rate of three per cent is con­sid­ered to be the equi­lib­rium point of sup­ply and de­mand and the con­stric­tion of the mar­ket REIQ CEO An­ton Kar­dash has put the low num­ber down to with a lack of buy­ing from in­vestors and other in­vestors opt­ing to sell their prop­er­ties in­stead of rent­ing them out.

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