Tuesday, May 28, 2024

Rentals up 13 per cent

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From April 2023 to April 2024, the average rent increased by 18 per cent in the Cambooya-Wyreema area, higher than the 10 per cent average increase across Queensland.

The latest Suburbtrends “Rental Pain Index” for April 2024 shows that for the Cambooya-Wyreema area, which also includes Hodgson Vale, Mount Rascal, Top Camp, Vale View and Finnie, the vacancy rate is just 1.04 per cent.

The vacancy rate across Queensland is 1.07 per cent, which is the lowest in Australia.

Locally, rental affordability, that is rent as a per cent of income, is 22 per cent, comfortably below the state average of 32 per cent.

This gives Cambooya-Wyreema a measurement of 80 out of 100 on the Rental Pain Index, showing the tough conditions facing renters.

In nearby areas, rentals are up 18 per cent over the past twelve months in Clifton-Greenmount (including Nobby and East Greenmount) and 8 per cent in Toowoomba-West, which includes Westbrook.

Clifton-Greenmount measures at 87 on the Rental Pain Index and Toowoomba-West at 90.

Other parts of Toowoomba City measure at over 95 on the Rental Pain Index, to as high as 99 in Newtown.

The overall score for Queensland on the Rental Pain Index in 85.03, the highest in the country.

On Our Selection News 11 April 2024

This article appeared in On Our Selection News, 11 April 2024.

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