Vacancy Rates

Jacob and Bridget will provide a quick update in residential vacancy rate in the Toowoomba Region.

Our team had seen the vacancy rate go from 0.90% to 0.60% in the last quarter which is quite surprising.

It was a piece of data released by REIQ that we were really interested in, and quite surprised about because what that means in real terms is out of every 200 properties in the rental market, only 1.2 properties are vacant at the current time, which is historically low.

We've come out of a historically low period. We thought it was getting a little bit healthier but it has gone backwards.

So that is great for residential property owners but not so great for residential tenants looking for housing at the moment which is really not something that we needed, to be honest, but an interesting data point and something that we thought was worth sharing.