It’s important to understand what is being measured. It is also important to understand where the results are coming from.
Consider residential vacancy rates for a moment.
Most published results come from a survey. But are those being surveyed, representative of today’s market place? Does the data supplied meet a base competence and complicity test?
Below is a summary of what is actually listed for rent across each of the inner Brisbane postcodes and their corresponding vacancy rates.
These results are much higher than other recently published industry figures.
What we need here is a common rule for measuring a vacancy rate. For mine, a vacancy rate is the total count of the property available for rent, measured against the total amount of rental stock in the same area.
And if for some reason a segment of the market is beating the odds – say, new inner Brisbane apartments are attracting tenants and have a lower than average vacancy rate – there must be reasons why.
And so often in things real estate, it comes down to price.
Not all residential markets are experiencing deteriorating affordability.
Keen to hear your thoughts.
Until next time,
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