A booming local economy, net interstate migration, and recent win to be the host city of the 2032 Olympic Games, Brisbane's future as Australia's next boom area for real estate investors and short-term rentals is looking bright.
Demand for flexible accommodation options is expected to rise in the coming decade in line with a fast growing economy across South-East Queensland, re-opening of borders and end of travel restrictions once the COVID-19 vaccine is widely available and distributed.
Occupancy rates for Airbnb properties and short-term rentals in Brisbane have performed strongly even from 2020 despite a lack of international visitors - due to strong domestic travel demand and more people moving to Brisbane for work and interstate migration.
Occupancy rates for Brisbane Airbnb properties and short-term rentals averaged 67% in the 7 months from January to July 2021, up from a low of 45% at the height of lockdown restriction impacts in May 2020, and returning to pre-pandemic levels just later that year.
This is also supported by an increase in listing nights booked, up 60% from a national lockdown impacted low in May 2020 versus June 2021.
The net interstate migration gain into Greater Brisbane for the December 2020 quarter was the largest since 2002, far exceeding all other major capital cities. Source: ABS.
Supported by a strong housing market and low unemployment rate, Brisbane's real estate market has also been a standout performing in terms of attracting new owner-occupier and investor interest.
According to the latest Domain House Price Report Brisbane's median house prices jumped by 13% over the 12 months until June – the largest rise in 13 years.
In Brisbane’s inner-city ring, house prices have jumped a massive 30%, while prices in Brisbane’s north are up 19.8%. Prices are 18.9% higher in the western suburbs and 17.5% in the south.
If you're interested in renting your property on the short-term rental market, download your free copy of the 2021 Brisbane Short-term Rental Report, prepared by MadeComfy, using the link below:
