Brisbane apartment rents rise despite inner city oversupply

BRISBANE apartment rents rose sharply in July, despite an oversupply of stock in the inner city.

Rent.com.au has released its latest report based on last month’s property leasing data and it shows a shift in median rental property prices, rental affordability and the price of house and apartment living by Walk Score®.

Brisbane was among five capitals to record an increase in apartment rents, with the river city’s median unit rent jumping from $380 to $395/week — just below Melbourne’s at $400/week.

But Brisbane house rents stagnated in July — dropping 1.2 per cent to $410/week.

The only capital city to record a bigger drop during the month was Canberra, which saw median house rents fall 2 per cent to $490/week.

Brisbane also has the cheapest houses for rent in the most walkable suburbs, according to a new report.

Furnished flat less than $40,000

Buyer pays millions in cash for this house

Queensland’s fastest growing areas

The report compared its Walk Score® data to price-per-room data across all leased properties in Brisbane, Melbourne, Sydney, Adelaide and Perth during the month, aiming to identify price trends in areas with varying levels of walkability.

It found Brisbane had the most affordable houses for rent in suburbs where daily errands don’t require a car, at $186.70 a week.

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