High rental demand and property prices are making renters nervous, in a trend sweeping many parts of Australia. New figures from The Real Estate Institute of Queensland show that for every 10,000 rental properties, just 57 were available — and coastal parts of Queensland continued to report strong sales figures.
Professor Shaun Bond, from the University of Queensland Business School, said the housing pressure was driven by record interstate migration, the adoption of remote work arrangements and the return of hundreds of thousands of Australian expatriates.
"We're getting this double whammy of people moving to Queensland but we're also seeing there's a lot of focus on people not being in capital cities, so people are moving to regional areas, which is a reversal of the situation this time last year," Bond said to the ABC.
