Rent rises fail­ing to mir­ror house prices

The Weekend Post - Real Estate - - Real Estate -

“Over the 12 months to June 2015 the Cairns weighted av­er­age me­dian rent has in­creased from $375 to $380 per week for houses, and in­creased from $265 to $270 per week for units,’’ the re­port stated.

“The trend va­cancy rates for June 2015 stood at 2.5 per cent for houses and 2.4 per cent for units.”

The tight va­cancy rate stood at 2.5 per cent over­all com­pared to 2.3 per cent in Fe­bru­ary and April this year.

Les Free­man Real Es­tate prop­erty man­ager Dianta Rolfe re­cently listed a four-bed­room house in Brins­mead for $460.

She ex­pected the house to be rented out be­fore it be­came va­cant in Oc­to­ber.

“For a three or four- bed­room house with one or two bath­rooms, we prob­a­bly av­er­age be­tween $400 and $ 450 a week,’’ Ms Rolfe said. “The prices are slowly in­creas­ing.

“This time last year, it would be down to­wards the $ 400 mark and now it’s creep­ing up to the $450 mark.

“We gen­er­ally lease prop­er­ties be­fore they be­come va­cant.”

The prop­erty man­ager said around Christ­mas and the new year the num­ber of prop­er­ties rented out slowed.

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