Brisbane’s average rental price for houses rose 16.9 percent in 12 months, while units rose 12.5 percent. In comparison, Sydney posted gains of 12.7 percent and 11.7 percent respectively, albeit from a higher base.
In Brisbane, average house rents rose to $520 this year from $445 in June last year in quarterly figures, while apartment rents rose from $400 to $450 over the same period.
An analysis of the rest of Queensland found that the median rent for both homes and units is now higher than regional areas in other states and territories after the asking price for homes rose 19.1 percent in 12 months.
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This week, Queensland Auditor General Brendan Worrall found that the Palaszczuk government was not building enough social and affordable housing, maintaining an accurate waiting list or properly managing existing stocks.
On Wednesday, Prime Minister Annastacia Palaszczuk blamed the crisis on higher interstate migration, supply shortages in the private housing market and inflation.
“We’re building houses as fast as we can, but we also have to compete with the private market,” she said.
Palaszczuk defended her government’s efforts to increase the stock of social housing, saying there was pressure on housing construction across the country.
“Everyone feels that,” she said. “We currently have a tight supply on the private rental market.
“We’ve seen the struggles of people who move to Queensland and maybe buy a house that has a family living in it and suddenly that family has to go and find another rental property.
“It’s not unusual. That increases our pressure.”
When asked if she understood the “level of despair” some families were experiencing, including some who had been on the waiting list in her constituency of Inala for two years, Palaszczuk said she did.
“I represent a social housing association, please don’t say I don’t understand this problem. That’s wrong and that’s wrong,” she said.
Opposition leader David Crisafulli accused the government of prioritizing positive social media posts over responding appropriately to the issue.
https://www.smh.com.au/national/queensland/a-landlords-market-brisbane-records-steepest-rent-rises-in-city-s-history-20220713-p5b19v.html?ref=rss&utm_medium=rss&utm_source=rss_national Brisbane has seen the steepest rent increases in the city’s history