New research commissioned by RentRabbit.com.au has found the top 20 rental markets in Queensland that are desperate for more stock.
The quarterly RentRabbit.com.au Rental Crisis Report identifies the top 20 suburbs in Queensland where tenants desperately need more rental accommodation to come onto the market, because the suburbs:
- Have incredibly low vacancy rates
- Have low average weekly household incomes
- Are below-average in terms of socio-economic status
The research began by analysing every rental house market in Queensland, before filtering out suburbs that:
- Contained more than three vacant rental properties
- Had a vacancy rate above 1.5%
- Were above-average in terms of socio-economic status
That left a small list of Queensland suburbs. To establish a top 20 ranking, these suburbs were then ranked based on their average weekly household income (from lowest to highest).
All but one of the suburbs were located outside Brisbane. Most had a vacancy rate under 1%, while some had a vacancy rate of 0%.
(When a suburb has a vacancy rate of 0%, that doesn’t mean the suburb literally has no vacant rental properties. Rental properties are regarded as ‘officially’ vacant when they’ve been on the market for 21 days or more. When a suburb has a vacancy rate of 0%, it means all rental properties are being filled in less than 21 days of being listed for rent.)
RentRabbit.com.au co-founder Ben Pretty said a lot of tenants are facing desperate conditions right now.
“Many renters in Queensland are being faced with a triple whammy – they live in socio-economically disadvantaged areas, they have low household incomes and it’s incredibly hard for them to find rental accommodation,” he said.
“Some of these renters are living in suburbs that have a vacancy rate of 0%, which means rental properties are being snapped up the moment they become vacant. Unsurprisingly, in the vast majority of these suburbs, rents have increased over the past year, often by double-digit percentages.
“The RentRabbit.com.au Rental Crisis Report is designed to highlight the rental crisis facing significant numbers of people. Yes, it really is a crisis. For the sake of renters living in those suburbs, we hope that more rental stock comes onto the market soon.”
Top 20 ranking
| Rank | Suburb | Postcode | Vacancy rate (1 year ago) | Vacancy rate (now) | Average weekly household income |
| 1 | Bundaberg Central | 4670 | 10.5% | 0.0%* | $714 |
| 2 | Bongaree | 4507 | 0.8% | 0.2% | $761 |
| 3 | Pialba | 4655 | 1.1% | 0.0%* | $763 |
| 4 | Torquay | 4655 | 0.5% | 0.5% | $772 |
| 5 | Bundaberg South | 4670 | 0.7% | 0.7% | $781 |
| 6 | Bellara | 4507 | 1.7% | 0.3% | $786 |
| 7 | Woorim | 4507 | 2.8% | 0.6% | $786 |
| 8 | Bundaberg West | 4670 | 1.7% | 0.8% | $788 |
| 9 | Granville | 4650 | 0.0%* | 0.0%* | $827 |
| 10 | Caloundra | 4551 | 1.0% | 0.8% | $833 |
| 11 | Bundaberg North | 4670 | 1.8% | 0.3% | $833 |
| 12 | Burnett Heads | 4670 | 0.6% | 0.0% | $847 |
| 13 | Inala | 4077 | 1.1% | 0.4% | $852 |
| 14 | Stanthorpe | 4380 | 0.2% | 0.2% | $872 |
| 15 | Gympie | 4570 | 0.6% | 0.1% | $874 |
| 16 | Murgon | 4605 | 1.7% | 0.0%* | $881 |
| 17 | Svensson Heights | 4670 | 0.4% | 0.0%* | $887 |
| 18 | Manoora | 4870 | 0.9% | 0.4% | $894 |
| 19 | Charters Towers City | 4820 | 0.0%* | 0.0%* | $901 |
| 20 | Rainbow Beach | 4581 | 1.6% | 0.0%* | $902 |
Key stats on the top 20 suburbs
1. The house market of Bundaberg Central (Bundaberg)
| Vacancy rate – March 2021 | 10.5% |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | -10.5 percentage points |
| Median weekly rent – March 2021 | $300 |
| Median weekly rent – March 2022 | $320 |
| Median weekly rent – change | 6.7% |
| Average weekly household income | $714 |
| SEIFA score | 1 |
2. The house market of Bongaree (Bribie – Beachmere)
| Vacancy rate – March 2021 | 0.8% |
| Vacancy rate – March 2022 | 0.2% |
| Vacancy rate – change | -0.6 percentage points |
| Median weekly rent – March 2021 | $420 |
| Median weekly rent – March 2022 | $460 |
| Median weekly rent – change | 9.5% |
| Average weekly household income | $761 |
| SEIFA score | 1 |
3. The house market of Pialba (Hervey Bay)
| Vacancy rate – March 2021 | 1.1% |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | -1.1 percentage points |
| Median weekly rent – March 2021 | $370 |
| Median weekly rent – March 2022 | $415 |
| Median weekly rent – change | 12.2% |
| Average weekly household income | $763 |
| SEIFA score | 1 |
4. The house market of Torquay (Hervey Bay)
| Vacancy rate – March 2021 | 0.5% |
| Vacancy rate – March 2022 | 0.5% |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $350 |
| Median weekly rent – March 2022 | $380 |
| Median weekly rent – change | 8.6% |
| Average weekly household income | $772 |
| SEIFA score | 1 |
5. The house market of Bundaberg South (Bundaberg)
| Vacancy rate – March 2021 | 0.7% |
| Vacancy rate – March 2022 | 0.7% |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $290 |
| Median weekly rent – March 2022 | $325 |
| Median weekly rent – change | 12.1% |
| Average weekly household income | $781 |
| SEIFA score | 1 |
6. The house market of Bellara (Bribie – Beachmere)
| Vacancy rate – March 2021 | 1.7% |
| Vacancy rate – March 2022 | 0.3% |
| Vacancy rate – change | -1.4 percentage points |
| Median weekly rent – March 2021 | $390 |
| Median weekly rent – March 2022 | $430 |
| Median weekly rent – change | 10.3% |
| Average weekly household income | $786 |
| SEIFA score | 1 |
7. The house market of Woorim (Bribie – Beachmere)
| Vacancy rate – March 2021 | 2.8% |
| Vacancy rate – March 2022 | 0.6% |
| Vacancy rate – change | -2.2 percentage points |
| Median weekly rent – March 2021 | $420 |
| Median weekly rent – March 2022 | $450 |
| Median weekly rent – change | 7.1% |
| Average weekly household income | $786 |
| SEIFA score | 2 |
8. The house market of Bundaberg West (Bundaberg)
| Vacancy rate – March 2021 | 1.7% |
| Vacancy rate – March 2022 | 0.8% |
| Vacancy rate – change | -0.9 percentage points |
| Median weekly rent – March 2021 | $295 |
| Median weekly rent – March 2022 | $340 |
| Median weekly rent – change | 15.3% |
| Average weekly household income | $788 |
| SEIFA score | 1 |
9. The house market of Granville (Maryborough)
| Vacancy rate – March 2021 | 0.0%* |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $290 |
| Median weekly rent – March 2022 | $340 |
| Median weekly rent – change | 17.2% |
| Average weekly household income | $827 |
| SEIFA score | 1 |
10. The house market of Caloundra (Caloundra)
| Vacancy rate – March 2021 | 1.0% |
| Vacancy rate – March 2022 | 0.8% |
| Vacancy rate – change | -0.2 percentage points |
| Median weekly rent – March 2021 | $435 |
| Median weekly rent – March 2022 | $525 |
| Median weekly rent – change | 20.7% |
| Average weekly household income | $833 |
| SEIFA score | 2 |
11. The house market of Bundaberg North (Bundaberg)
| Vacancy rate – March 2021 | 1.8% |
| Vacancy rate – March 2022 | 0.3% |
| Vacancy rate – change | -1.5 percentage points |
| Median weekly rent – March 2021 | $320 |
| Median weekly rent – March 2022 | $380 |
| Median weekly rent – change | 18.8% |
| Average weekly household income | $833 |
| SEIFA score | 1 |
12. The house market of Burnett Heads (Bundaberg)
| Vacancy rate – March 2021 | 0.6% |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | -0.6 percentage points |
| Median weekly rent – March 2021 | $320 |
| Median weekly rent – March 2022 | $370 |
| Median weekly rent – change | 15.6% |
| Average weekly household income | $847 |
| SEIFA score | 1 |
13. The house market of Inala (Forest Lake – Oxley)
| Vacancy rate – March 2021 | 1.1% |
| Vacancy rate – March 2022 | 0.4% |
| Vacancy rate – change | -0.7 percentage points |
| Median weekly rent – March 2021 | $335 |
| Median weekly rent – March 2022 | $350 |
| Median weekly rent – change | 4.5% |
| Average weekly household income | $852 |
| SEIFA score | 1 |
14. The house market of Stanthorpe (Granite Belt)
| Vacancy rate – March 2021 | 0.2% |
| Vacancy rate – March 2022 | 0.2% |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $285 |
| Median weekly rent – March 2022 | $305 |
| Median weekly rent – change | 7.0% |
| Average weekly household income | $872 |
| SEIFA score | 2 |
15. The house market of Gympie (Gympie – Cooloola)
| Vacancy rate – March 2021 | 0.6% |
| Vacancy rate – March 2022 | 0.1% |
| Vacancy rate – change | -0.5 percentage points |
| Median weekly rent – March 2021 | $315 |
| Median weekly rent – March 2022 | $370 |
| Median weekly rent – change | 17.5% |
| Average weekly household income | $874 |
| SEIFA score | 1 |
16. The house market of Murgon (Burnett)
| Vacancy rate – March 2021 | 1.7% |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | -1.7 percentage points |
| Median weekly rent – March 2021 | $250 |
| Median weekly rent – March 2022 | $265 |
| Median weekly rent – change | 6.0% |
| Average weekly household income | $881 |
| SEIFA score | 1 |
17. The house market of Svensson Heights (Bundaberg)
| Vacancy rate – March 2021 | 0.4% |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | -0.4 percentage points |
| Median weekly rent – March 2021 | $310 |
| Median weekly rent – March 2022 | $350 |
| Median weekly rent – change | 12.9% |
| Average weekly household income | $887 |
| SEIFA score | 1 |
18. The house market of Manoora (Cairns – South)
| Vacancy rate – March 2021 | 0.9% |
| Vacancy rate – March 2022 | 0.4% |
| Vacancy rate – change | -0.5 percentage points |
| Median weekly rent – March 2021 | $375 |
| Median weekly rent – March 2022 | $415 |
| Median weekly rent – change | 10.7% |
| Average weekly household income | $894 |
| SEIFA score | 1 |
19. The house market of Charters Towers City (Charters Towers – Ayr – Ingham)
| Vacancy rate – March 2021 | 0.0%* |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $275 |
| Median weekly rent – March 2022 | $270 |
| Median weekly rent – change | -1.8% |
| Average weekly household income | $901 |
| SEIFA score | 1 |
20. The house market of Rainbow Beach (Gympie – Cooloola)
| Vacancy rate – March 2021 | 1.6% |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | -1.6 percentage points |
| Median weekly rent – March 2021 | $350 |
| Median weekly rent – March 2022 | $370 |
| Median weekly rent – change | 5.7% |
| Average weekly household income | $902 |
