Queensland renters paying above asking price to secure housing in competitive market

Families looking for rental properties in Greater Brisbane are facing intense competition in the tightest market in 10 years, with prospective tenants offering above the asking price just to secure a place.

Real Estate Institute of Queensland (REIQ) data shows Greater Brisbane’s vacancy rate was sitting at 1.4 per cent in September 2020, making it difficult for families to find adequate rental accommodation.

But it is believed the rental market has only gotten tighter since then and the vacancy rate has dropped…