3 Feb 2011
There is little doubt that the Brisbane floods will have a negative effect on property prices, especially for flood affected areas, but it’s not all bad news for the Brisbane property market.
Those with investment properties in Brisbane are likely to see high demand for their properties, as displaced flood victims look for temporary accommodation while there homes are repaired.
Real estate experts believe that the rush for rental properties could potentially see rents rise up to 10 percent.
The most highly demanded properties will however be those that are furnished. Typically furnished properties only take up about 5 percent of the rental market, so if you have been thinking about furnishing your investment property, then right now it looks like it would be a good idea if you would like to attract more tenants.
It won’t just be displaced flood victims who will be needing rental accommodation though. There will be a lot of builders and tradespeople travelling from interstate and needing a place to stay in Brisbane while suburbs are rebuilt, so they will also contribute to a tightening Brisbane rental market.
Unfortunately while this is good news for investment property owners, it obviously doesn’t sound too good for those who are looking to rent. The best advice I can give to those who are having trouble renting is to make sure you’re prepared and apply for rentals as soon as you can.
When you go and visit a rental property have your forms, deposit and all important information ready to hand over so that your application can be processed as soon as possible. Get in quick too, because there is likely to be more people searching for rentals when uni students start looking for accommodation, before the uni year starts in about a month.
If you are having any troubles finding a rental in Everton Park and surrounds, or would like advice regarding your investment property than please get in touch with the Professionals Keith Brady Real Estate