The Gold Coast rental market is frantic as vacancy rates drop, currently sitting below 1 per cent. The rental market is extremely competitive with supply for renters becoming increasingly difficult. In the Southern suburbs vacancy rates have dropped to 0.3 per cent in December 2020. Rental prices between $500 to $750 per week have immense competition with line ups in open houses and offers above the asking price.
Metricon Queensland have reported a 400 per cent increase in interstate inquiries for new homes being build.
With new estates being built in areas such as Coomera and Pimpama experts are unsure if it will force renters to move further from the Coast, or to purchase instead of rent.
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