Rental Data to December 2016
Rental data for the 2016 December quarter from the RTA shows the rental gap between Cairns and Townsville widened further. Rental data is for new bonds lodged during the quarter.
That is 3br houses. The gap for 4br houses is also $80 and 2br units $70. Meanwhile, there is some indication further south that the Mackay rollercoaster may be approaching the end of the ride.
The declines in y-o-y growth mostly appear to have worked through in Mackay. Despite the relative outperformance growth in Cairns has been anaemic in the most recent years.
Comparative data from RTA places Cairns well above regional centres outside SEQ. Gladstone here is a shocker with a median 3br rent of just $180 for new bonds during the quarter a decline of 40% over the last two years. However, Pete Wargent sees some positive signs: Gladdy nears a bottom.
RTA also provide data on total bonds held including this comparative regional data for general tenancies. Central West is meaningless as easily the smallest region and growth shown represents only about a hundred rental bonds. Brisbane comprises 48% of total rentals so is the dominant influence on Queensland growth of 3.6% for the year to 31 December 2016. More than double estimates of population growth.
The lowly Far North position here would overwhelmingly represent Cairns. May require further digging in the RTA data.
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