Move Fast to Secure a Rental
October 27 2023
Fresh rental properties in the prestige sector are being snapped up within days as people scramble to secure a property ahead of the holiday period.
While the Gold Coast vacancy rate of 1.2 per cent remained tight and unchanged this quarter, according to CoreLogic, it remains a significant improvement on the market low of 0.4 per cent hit in March 2022.
In the prestige sector stock volumes have been less tight throughout the past six months, with a steady stream of premium properties entering the rental pool. However, this is changing as we progress towards the end of the year.
Kollosche’s property management department has reported a marked increase in enquiry levels in recent weeks. Prospective tenants are acting swiftly to secure stock and are prepared to pay top dollar for the right property.
The highest rents across the Gold Coast are currently being achieved in Tallebudgera Valley, where CoreLogic shows the median weekly asking rent is $1,350. Clear Island Waters follows closely at $1,300 a week, while Broadbeach Waters, Mermaid Beach and Tallai all come in at $1,200 a week.
Source: CoreLogic | Period: 12 months to September
Kollosche’s property management team consistently secures yields above the market median, with four properties secured in the same week achieving rent of $3,000 per week, or above.
One was a three-level, fully furnished family beach house in Currumbin, which was leased for an October record of $4,500 a week. The seven-bedroom property perched on the headland at 4 Duringan Street was designed by Gold Coast architect Paul Ulhmann and has won design awards for its curved copper-clad facade.
At 20 Andrea Avenue in Broadbeach Waters, an immaculately presented waterfront residence in a desirable street, sought after for its wide water outlook and central position to amenities, was leased for $3,000 a week.
While houses and apartments are equally in demand, turn-key properties or those that are well-maintained and presented tend to attract higher rents.
Many of the properties leased through our property management team, come from within Kollosche’s expansive database of repeat and qualified clients, providing peace of mind for new and existing landlords and tenants.
If you are looking to enter the rental space, reach out to our experienced property management team for guidance and professional advice.