A few more rentals come on market in Gladstone
SMALL pieces of good news have pierced the tough rental market lately. Another one came along this week.
The vacancy rate on Gladstone's rental market has doubled since the September quarter.
From July to September last year, 0.9% of the region's rental properties were vacant, making it extremely difficult for prospective tenants to find a home, and pushing up prices.
That number is extraordinarily low - in fact, it was the lowest figure in the state at the time.
By the December quarter, the vacancy rate had risen to 2.1%.
That is still a low number. A vacancy rate of 3% is considered neutral.
While Gladstone is exceptional, all areas in Queensland had vacancy rates less than 3%.
REIQ CEO Anton Kardash said Queensland's rental market had been a story of more demand than supply throughout 2012.
"As the year progressed, it became apparent that the continued robust demand for rental properties was not going to ease anytime soon," he said.
Toowoomba had the lowest (December) vacancy rate with 1.0%.