Refugees & Rental Vacancies
SQM have updated rental vacancy rates for July with some surprisingly strong downward moves particularly in the 4879 beaches postcode.
Previous issues remain that the implied rental stock derived in the SQM data from the vacancy rate and vacant properties is well above current bonds lodged at RTA by about 6,000 in Cairns: What is the rental vacancy rate
However it is a consistent widely regarded series and mostly aligns with the numbers and trends from Rick Carr at HTW CairnsWatch which is a rent roll survey. I prefer to amalgamate the postcode data from SQM in preference to their regional data. This indicates that SQM vacancies have fallen by 378 in Cairns urban postcodes from the April peak. RTA bond data posted an astounding jump of 416 bonds in the June 2020 quarter:
I didn’t post this previously and sent a query to Residential Tenancy Authority on the data which hasn’t been responded. That’s understandable as this would would obviously be an agency under some stress in current circumstances.
What quickly stands out in a flick through the SQM data is that this is not exclusive to Cairns or even outstanding. Mackay 4740, one of the largest population postcodes in Queensland has fallen to the lowest level since 2012 in a few months. Townsville postcodes require amalgamation for analysis and are confused by the 2019 floods but some postcodes have now fallen to new multi-year lows below flood levels.
Population flows are what to watch which has been previously posted here as a theme. So this was interesting: Melburnians escaping stage four lockdown with Queensland border closure loophole
Anyone moving to Queensland, however, needs to prove they have an official lease or residency in the state, will need to quarantine in a hotel for a fortnight if they’re coming from a virus hot spot and will need a valid border pass to be able to cross the border.
I haven’t been able to confirm anything related to this report from 9 News on the requirements to relocate to Queensland?
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