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Rental costs are on an even keel

By Dennis Simic

There is good news for tenants of rental property in Morningside, as the latest figures show that costs have remained fairly constant over recent months.

CoreLogic RP Data's April Rental Review shows national rental rates increased 0.1 per cent in April. As a result, they continue to rise at the slowest yearly pace seen in more than ten years.

"The slow pace of rental appreciation can likely be attributed to the booming level of dwelling construction coupled with high levels of buying activity from the investment segment which is adding additional rental stock to the market and curtailing rental increases," said research analyst Cameron Kusher. 

It is now the fourth month in a row that the national annual rental growth has stood at 1.7 per cent. The combined capital city rental rates were up 0.7 per cent during the three months to April and 1.7 per cent over the past 12 months.

This follows data from the Real Estate Institute of Queensland, which indicated that there have been slight improvements in the state's rental sector.

The vacancy rate across Brisbane city fell from 2.9 per cent to 2.5 per cent at the end of March this year, showing that demand for rental accommodation still remains strong.

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