Gold Coast rental market described as ‘hectic’ as vacancy rates drop

The Gold Coast’s rental market has become increasingly competitive with supply shrinking as investors sell up, a real estate agent has revealed.

Gold Coast vacancy rates have dropped below 1 per cent, while Metricon Queensland has reported an “extraordinary” 400 per cent increase in interstate inquiries wanting to build new homes.

The squeeze has forced people to lower their expectations as they spend months searching for a home.

Sophie Borowski, 25, has been looking for a rental between Mermaid Beach and Burleigh for…