Brisbane tenants warned of rent hikes amid ‘landlord’s market’
Tenants in Brisbane are warned rent hikes are still likely as competition for rentals rages on across the city.
4BC producer Chloe told Bill McDonald the rent on her West End home was upped by more than $200 a week, forcing her household to bring in another tenant.
“We’re currently paying $750 a week but we had a house inspection about two months ago and the rental agent told us they’re going to be increasing it to $960 a week,” she said.
“We love the house and we don’t want to move but we feel like we don’t really have any other options.”
Unfortunately, it’s a problem that’s certainly not unique to Chloe, Domain chief of research and economics Nicola Powell said.
Brisbane currently has a vacancy rate of just 0.9 per cent, making a strong landlord’s market.
“A lot of tenants will be finding when their leases are expiring, that property manager or investor will look to hike that rent,” Ms Powell said.
“This isn’t just a Brisbane problem, this is something that’s impacting Australians across our capital cities and into regional Australia as well.”
Press PLAY below to hear Nicola Powell’s tips to finding some rental relief
Image: Getty