Townsville has started 2018 with an improvement in the residential property rental market, according to the latest market report commissioned by Townsville Rentals. The report found that the residential rental vacancy rate for the city is now at its lowest in two years, with an overall vacancy rate of 4.1%. Townsville Rentals currently has a vacancy rate of 3.5% for our properties.
This tightening of the market has come on the back of positive economic improvements in the region. A strong pipeline of development projects has helped bring about growth in the number of overall jobs in Townsville and a reduction in the unemployment rate.
It is hoped that the residential rental market will see ongoing improvement this year as major economic projects, including the Townsville Stadium and Haughton Pipeline duplication, continue to deliver in the region.
