Moar rental bond stuff

Following the last post a quick browse at RTA bond data for Cairns Regional Council area postcodes but also including Douglas. This is the change in number of bonds held by the RTA over five years to December 31.

Postcode         2013         2018         Change #         Change %
4861                  116           135                  19                  16.4%
4865                  528           534                   6                    1.1%
4868                 2683        2829               146                   5.4%
4869                 2002         2013                11                   0.5%
4870               11724       11592             -132                 -1.1%
4878                 1999         2062                63                   3.2%
4879                2971          2900               -71                  -2.4%
4873                  672            665                -7                  -1.0%
4877                1066           907              -159                -14.9%

Go Babinda! The bulk of rentals are in the central 4870 postcode which includes the City and is among the largest population postcodes in Queensland. What stands out here though is postcodes where we have seen declines all have a significant tourism accommodation component. Which means they are also attractive lifestyle locations. Port Douglas 4877 stands out.

We should probably expect some shift in tenure from rental to home ownership in parts of these areas such as 4879 around the beaches which would also be consistent with census data for Cairns with a shift to higher home ownership. There has also been negligible new strata unit capacity in these locations. Tenure in strata buildings with management rights can be very fluid between owners, renters and holiday accommodation. An Airbnb effect can’t be discounted.

I went looking elsewhere for something similar to what we are seeing in Cairns such as the Whitsundays but it wasn’t there at all …….

 

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