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Asking rents soar to record highs in coastal areas – The Australian Financial Review

Tight supply and strong demand have lifted rents to new records across many coastal areas.



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We thought the migration away from the CBDs would be reversed, but it looks like people continue to seek out bigger spaces in areas offering desirable lifestyles. We now know there wont be a complete reversal of the trend away from the cities.
High tenant demand has pushed vacancy rates to record lows in the Gold Coast, Sunshine Coast and Port Macquarie, where it had fallen to 0.8 per cent, 0.9 per cent and 0.3 per cent respectively.
The rental markets in the inner cities surrounding CBDs have also…

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