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Gold Coast among the most expensive regional QLD cities to rent property

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first_imgA new report reveals the Gold Coast is one of the most expensive regional Queensland cities to rent property.RENTERS on the Gold Coast are forking out some of the highest prices for properties in regional Queensland.A new report released by non-government social housing provider, Compass Housing Services, reveals the Gold Coast has the second highest median rent in regional Queensland.The report lists the median rent each week on the Coast as $440, meaning tenants would need a weekly income of $1467 to be able to afford it.While also in the top five of least affordable areas are; Noosa at $457.50, Gympie at $285, Hervey Bay at $320 and the Sunshine Coast at $430.REIQ Gold Coast zone chairman Andrew Henderson said one of the main factors affecting prices was the lack of properties available for rent as owner-occupiers were the region’s dominant buyers.He said the fluctuating number of tourists and transient workers also contributed to the property shortage as well as the type of those available, while the slow release of land for new housing estates put added pressure on the rental market.“The Gold Coast has got some unique factors,” Mr Henderson said.“That diversity is also a bit of a challenge when trying to break down those figures.”Latest data from the Residential Tenancies Authority shows suburbs in the 4217 postcode — including Benowa, Bundall, Main Beach and Surfers Paradise — were the most expensive areas to rent with $850 the median price per week for a four-bedroom house.That is $120 more than the same period the previous year.The cheapest place to rent was the 4209 postcode — which included Coomera, Pimpama and Willow Vale — with $179 the median price per week for a one-bedroom flat.More from news02:37International architect Desmond Brooks selling luxury beach villa15 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoCoomera, Pimpama and Willow Vale are among the cheapest suburbs to rent on the Gold Coast.Lucy Cole Prestige Property managing director Lucy Cole said areas in the northern corridor were cheaper because there were plenty available.“Because there’s so much competition up there, (rent) is lower,” she said.She said quality homes at the heart of the city were harder to find and offered the best of the coast lifestyle, which made them more expensive.“We know that there’s a scarcity of good properties,” she said.“The size and (number of) rooms also plays a big part.“If it’s a multimillion-dollar home … that’s where you’d expect to pay more.”CoreLogic research analyst Cameron Kusher said while house value growth was slowing across the Coast, rental growth looked to remain strong.“This is potentially reflective of the increasing number of residents moving to the region but they are choosing, at least initially, to rent rather than buy,” he said.“Rental growth is expected to continue along at a fairly strong pace, especially considering that migration to southeast Queensland remains strong.”last_img read more

Ireland celebrates their Six Nations Championship victory

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first_imgIrish centre Robbie Henshaw says having to wait for that game to finish added to the drama.Meanwhile Ireland’s women can match their male counterparts in winning their version of the rugby union Six Nations today.They need a victory by at least 27 points when they meet bottom side Scotland.France are currently top of the table after a 21-15 win against England last night. They retained their title last night, after England failed to win by the required margin against France.Ireland’s 40-10 victory in Scotland earlier in the day meant England needed to win by 26 points.They came up 6 points short, as they beat the French 55-35 at Twickenham.last_img read more