Lifestyle draws in renters

IT’S official. The Gold Coast is the hottest rental market in the country with eight postcodes topping the national REA Group Property Demand Index.

Released today, the index – which is calculated on demand at realestate.com.au – also names Queensland’s top postcodes for renters with Gold Coast suburbs scoring all 10 spots.

Kirra topped the list, followed by Tugun, Miami, Reedy Creek and Bilinga.

Rounding out the top 10 were Merrimac, Mermaid Waters , Burleigh Waters, Clear Island Waters and Coolangatta.

The report credits the Coast’s beachside lifestyle and strong, job-creating economy with being particularly attractive to young people.

“The upcoming Commonwealth Games and the new light rail are also attracting more people to the area,” the report stated.

“The huge demand from renters on the Gold Coast supports further property investment as well more development, but increased development needs to be well thought out to avoid oversupply in the future.”

The report noted that a lack of affordable housing in the country’s big cities was forcing people to turn to renting instead of buying a home.

Harcourts Coastal property manager Brent Martens said he wasn’t surprised that so many Gold Coast postcodes made the national list.

“It’s just the lifestyle that the Gold Coast offers,” he said.

“We’ve got the beach on our doorstep and plenty of new shops and cafes up here.”

Mr Martens said rentals were being snapped up within hours of hitting the market and up to 30 groups were inspecting each property.

It comes as the State Government puts out a call for tenants to stand up for their rights after the Unsettled – Life in Australia’s private rental market report revealed that more than half of tenants across the country did not exercise their rights from fear of being blacklisted , having their rent increased or being evicted.

Ray White Surfers Paradise Group CEO Andrew Bell said the Coast needed to move away from a tenant versus landlord mentality.

“At the end of the day, tenants need landlords to buy properties for them to rent, and if there’s ever an imbalance then a separate set of hardship problems would come along,” he said.

“I’m all for a balanced situation . It can’t be one-sided or in favour of one or the other.”

Source: Gold Coast Bulletin 4 March 2017

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