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Insider Advice: 2024 Rental Market Insight for Investors

Friday February 16, 2024 ● By Emily Russ // Place Estate Agents

As 2024 gets into full swing, many renters are seeking a new place to call home and buyers are considering how to best invest their funds. Thinking about purchasing your first investment property or adding to your portfolio? We asked Place Corporate Property Management Team Leader Matthew Gleaves for his insight into the year ahead…


Is there a continuing demand for rentals from potential tenants?

“The market continues to show a high demand for rental properties in south-east Queensland. Vacancy rates continue to remain below one per cent, which is the lowest number it has been in many years. With the current stock levels and limited new properties coming onto the market, we expect to continue to see a competitive rental market.”

Have you noticed any impacts from the current economic situation?

“With cost of living pressures, we are seeing the highest demand for properties that are under $800 per week to rent. This would indicate that a decent percentage of potential renters are looking to stay within that lower-end budget, making more affordable residences a smart investment for buyers. Properties between $800 to $1,200 per week are still in demand, while properties over $1,200 per week are spending the most days on market.”




Are there any key features that are currently attracting interest from renters?

“When purchasing houses, those in school catchment areas that are attractive to families are performing very well. Investors should look into which school catchments their properties fall into and which private schools are nearby to make an informed decision.

Alternatively, investors will net the best returns with apartments that are close to public transport options or are in a building with shared facilities. Location and lifestyle really are two of the most important things to keep in mind when it comes to purchasing an investment property.”

Is there anything you would recommend to potential investors considering entering the market?

“Ensuring that you take out Landlord Insurance is essential, as it covers any event that might affect your investment and can save you potential financial stress. Additionally, we would recommend setting up a tax depreciation schedule to maximise your yield. This provides a breakdown of depreciation deductions that are claimable over time and accounts for the ageing and depreciation of a building.”

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