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Residential Vacancy Update shows drop in vacancy rate

10 July 2018

Townsville Rentals released our latest Residential Vacancy Update in June, showing a slight drop of the rental market to 3.9%.
 
The Residential Vacancy Update reports are produced exclusively for Townsville Rentals by an independent agency, ensuring we have access to comprehensive local market data to offer the best advice for management of your investment property.
 
The June edition has outlined promising signs for the local market on the back of a slowly improving economy. The residential rental vacancy rate of 3.9% reflects an improvement from the figure of 4.1% found in April.
 
Overall, the findings show that Townsville’s residential rental market has not yet achieved the critical balance point needed for investors to begin to see increasing returns on their properties. Outside of a small zone around the North Queensland Stadium construction site, there is no evidence of an increase in rental prices across Townsville. The report predicts that a vacancy rate of 3% is required for the conditions required to begin to see greater returns on investments in the right property circumstances.

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