Cairns Rents going to the moon …… or rolling over?

RTA rental data released today for the September quarter show continued increases in 3 bedroom houses in North Queensland:

RTA 0921 1

Somewhat less and also more volatile in 2 bedroom units:

RTA 0921 2

Annual median rental growth rates are still high but all below the previous quarter. This cycle also comes into play with some of the current debate around inflation and the base period. Annual growth to the September quarter is lower in all these main categories than annual growth in median rents to the June quarter 2021.

RTA 0921 5RTA 0921 4

Townsville remains relatively cheap compared to both Cairns and Mackay:

RTA 0921 3

Median rent for a 3br house in Mackay is $10 cheaper than it was ten years ago in the September 2011 quarter. Bond lodged numbers data itself is more interesting for me.

Note: median rents will typically move in $5 increments. Also this data is new bonds lodged in the quarter so is only a small proportion of the total rental stock.

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