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The Road Ahead for Inner Brisbane's Rental Market

Place Advisory has analysed the rental performance of all suburbs located within five kilometres from the Brisbane CBD over the past 12 month period. Below we will discuss how Inner Brisbane’s rental market performed throughout 2016 and what Place Advisory expects to see in 2017.

Vacancy Rates

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Prepared by Place Advisory. Source SQM Research

The most recent REIQ data indicates that vacancy rates in Inner Brisbane have increased to 3.7% for the September 2016 quarter. Despite being slightly higher in comparison to previous quarters, this equates to properties being vacant for just two weeks of the year. The interactive map above highlights the vacancy rates in each suburb within Inner Brisbane. The map is colour coded, with the darker green representing the highest vacancy rates. Hover over the map to find out how your suburb rates and which suburbs in Brisbane have the highest vacancy rates.

Percentage Change in Rental Values by Precinct | Past 12 Months

Percentage Change Graph

Prepared by Place Advisory. Source Residential Tenancies Authority


  • Brisbane’s CBD remains to be the most expensive rental market for both one, two and three bedroom apartments. However, over the past 12 months median rents in the CBD have suffered.
  • Median rental prices for two bedroom apartments saw the strongest fall in values over the past 12 month period, decreasing by 5.2% to $550 per week.
  • One bedroom apartment rents fell by 4.8% whilst median rental prices for three bedroom apartments decreased by 2.6%.
  • Apartment rentals in the CBD equated to 14% of all new bonds issued during the September 2016 quarter.


  • Apartment rentals in Brisbane’s western precinct accounted for 14% of all new bonds issued throughout the September 2016 quarter.
  • Rental prices for one bedroom apartments in the western precinct saw 4.3% price growth over the past 12 month period – the only apartment type to experience rental growth.
  • Two and three bedroom apartment rents declined over the period, decreasing by 3.6% and 4.8% respectively.


  • One bedroom apartments in Brisbane’s eastern suburbs recorded the strongest rental growth across all precincts, experiencing 5.2% price growth over the past 12 months.
  • Two bedroom apartment rents softened by 3.8% whilst three bedroom rental prices decreased by just 0.2%.
  • Apartment rentals in Brisbane’s eastern suburbs accounted for just 11% of all new bonds issued throughout the quarter.


  • Median rental prices for three bedroom apartments in Brisbane’s northern suburbs recorded 4.1% rental growth over the past 12 months, increasing to a median price of $642 per week.
  • One and two bedroom apartment rents declined by 2.3% and 0.2% respectively over the past 12 month period ending September 2016.
  • Brisbane’s north recorded the highest number of new rental bonds for the quarter, accounting for 40% of total bonds issued.


  • Brisbane’s Inner South precinct performed relatively well over the past 12 months, being the only precinct to record rental growth in all apartment types.
  • One bedroom rents saw the highest growth, increasing by 3.6% to $345 per week, whilst two and three bedroom apartment rents increased by 0.7% and 1.6% respectively.

What to Expect in 2017

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Place Advisory expects that Inner Brisbane’s rental market will remain relatively strong throughout 2017, particularly for new apartments. Tenants are seeking well appointed apartments in high amenity locations with direct access to infrastructure. Although tenants are spoiled for choice, apartments are not sitting on the market for as long as expected.

Video Update

Sophie Smith from Place Projects Rentals summarises our most recent rental market report.