Across 18 sought-after suburbs in south-east Queensland, weekly rent will now set you back $1000 or more.
Gold Coast house rents have sailed past Sydney’s to a record high $845 per week regardless of an affordability crisis, Australians are still paying a premium to live by the beach.
Domain’s chief of research and economics Dr Nicola Powell said both cities clocked a reacceleration of rental growth in the first three months of the year which showed appetite for the coastal lifestyle hasn’t waned.“Rental growth for both house and units over the March quarter doubled … and while overall growth is lower than the peaks achieved in 2022, we still have strong levels of overseas and interstate migration in both cities.
On the Sunshine Coast, however, Powell believed the city was again in the midst of another upward cycle. “A home that previously fetched $3000 per week is renting for $2500,” Thomas said. “But once you get below $1500 or $2000 a week for rent, we still have a lot of people waiting.”
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