“Brisbane is such a liveable city! The fact we have been living a relatively normal life while the rest of the country was in significant lockdowns has also increased the appeal. So, Brisbane is now the city of choice for many interstate tenants. With working from home becoming a continued option for many, living in Brisbane while retaining your role intestate as never been easier. Why would you not want to move to the Sunshine State?”
- Lisa Perruzza, Place Bulimba Business Development Manager
Property: Bulimba Executive House
5 Bed | 3 Bath | 2 Car
Rental Price: 12-month lease at $2200 per week
Unprecedented rates of interstate and overseas migration have sparked one of Brisbane’s strongest rental markets in a decade, with record-high median prices being recorded across the city. Lisa Perruzza, Business Development Manager at Place Bulimba, says she has never met so many tenants who are seeking the Brisbane lifestyle change and in turn, stock is moving incredibly quickly.
Bulimba has long been a high demand suburb amongst Brisbane buyers. What some people may not realise, is that this demand is also seen in the rental space, with most properties leasing in a matter of days.
Lisa has worked in the area for over 10 years and is a fountain of knowledge when it comes to the rental market in Inner-East Brisbane. During this time, she has formed many long-term relationships with investors, including the landlord of the Bulimba home featuring in this case study.
This particular property is a five-bedroom executive family home in the heart of Bulimba, which was purchased through a Place agent and passed on to Lisa and her team to lease. He chose to use Place Bulimba, thanks to the fantastic previous experience he has had with herself and the entire property management team who manage his portfolio of investment properties.
In order to best showcase the home, Lisa developed a campaign that included professional photography, floor plans and premiere advertising packages on both realestate.com and Domain. To keep the property in best presentable condition, fortnightly pool and garden maintenance was conducted.
“People can often overlook the simple parts of marketing when it comes to rentals, but it makes all the difference. I’m a strong believer that if your property is not professionally photographed, it’s not professionally marketed and you will not get the results you want,” she says.
As a result, Lisa had interest from local, interstate and international families who viewed the home in person and via video platforms. “There was solid interest from people looking to move from down South. They want to be able to retain their positions and work from home while testing out the Brisbane lifestyle before committing to buy.” In the end, six families applied for the property with a strong offer making the winning application more appealing.
According to Domain, 45% of the properties in Bulimba are currently tenanted, highlighting the number of investors that see the opportunity that exists with owning an investment property in the area.
With a buzzing dining scene, entertainment, shopping, parks and easy access to the CBD, Bulimba offers an enviable lifestyle, so it’s not hard to see why people want to rent there as much as they want to buy. Community spirit is high and celebrated often, resulting in lots of long-term residents who wouldn’t dream of living anywhere else. You can read more about the Bulimba lifestyle in our Local Guide, here.
Lisa says that if you’re considering investing, now is a good time to get in the market: “Vacancy rates are historically low with demand outweighing supply. This is driving rental prices to rise with the strong tenant competition on all price brackets and styles of property. Interest rates are also historically low. The Brisbane property market presents investors a great opportunity to grow their portfolio and take advantage of low rates, strong yields and tenant competition.”
Servicing the surrounding suburbs of the Inner East of Brisbane and beyond, the Bulimba team offers a reliable, high quality service that you can always count on when it comes to leasing and managing your home. Coupled with the award-winning sales team, you can expect a seamless transaction process. No matter your property dream, the Place Bulimba team welcomes the opportunity to achieve your goal.