Rent in Brisbane now more unaffordable than Melbourne, with number of homes for under $400 a week halved in past year.
The number of properties available for rent under $400 a week in Brisbane has halved in the past year, latest PropTrack data found.
Only 13 per cent of rental listings in February 2023 were priced under $400 a week, the report found – down from 28.3 per cent in February 2022, and a massive drop from 46.2 per cent at the start of the pandemic in March 2020. Tenants Queensland chief executive Penny Carr said Queenslanders were being forced out of rental homes amid “opportunistic” increases by landlords across the state.
“People are ending up in all sorts of situations because of it – some are lucky and can stretch their budgets, some are ending up homeless in a variety of ways couch-surfing, sleeping in cars, tents, something’s going to have to change between now and the Olympics.”
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