 North West News, Tuesday 15th & Wed Jan 16th 2008, Front Page, Petrina Berry & Andre Grimaux
Southeast Queensland’s burgeoning population is causing a rental property crisis according to local Quest Newspapers.
Both the Caboolture Shire Herald and North-West News of January 15-16 headlined a “Rent Crisis” with the sub heading: “Potential tenants queue up as homes, units dry up.”
Andre Grimaux in the Herald story said REIQ figures for September 2007 quarter showed a vacancy rate of 2.7% - the lowest ever seen in the Caboolture Shire according to some agents.
Of more concern, the article said, was the 10.6% average increase in rents - $25 a week - over the past year.
An average 3-bedroom property in Caboolture that rented for $180 a week five years ago was now almost 45% more expensive at $260 a week.
REIQ Caboolture Zone Chair, Col Street, was quoted as saying he could not see the very strong competition for rental properties changing any time soon because of the large number of people moving to southeast Queensland.
The North-West News article by Petrina Berry said the competition was so fierce some real estate agencies had capped applications to just five a property.
Elders Everton Park was receiving 15 enquiries a day despite having just two properties available for rent. | 
