The Real Estate Institute of Queensland (REIQ) has released their quarterly rental vacancy data and its great news for Brisbane.

The June quarter data indicated a recovery is forthcoming with a tightening in Inner Brisbane, as well as much of regional Queensland.

Brisbane Local Government Area (LGA) moved from the ‘weak’ to ‘healthy’ range with a vacancy rate that fell from 3.7 per cent to 3.3 per cent.

Inner Brisbane, which is dominated by apartments, saw a significant drop from its all time high of 4.4 per cent in the March quarter, down to 3.5 per cent in this latest review.

REIQ CEO Antonia Mercorella said these figures are a good indicator of the health of the inner city market, with Brisbane moving into the ‘healthy’ range where “both tenants and landlords have reasonable expectations of their needs being met.”

Mrs Mercorella continued on to comment that the market “has an unswerving ability to self-correct” with 2300 new apartments coming onto the market in the first quarter on 2015, and in that same period in 2017, 260 apartments were released to the market.

The 5-10km ‘middle ring’ around Brisbane continues to impress, maintaining a 3.1 per cent vacancy rate from the previous March quarter. This region has seen a tightening over the past six to nine months.