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Rental prices skyrocket across the Gold Coast

20 Nov 2016 Surfers Paradise 0 Comment

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Gold Coast rents are skyrocketing as a major rental crisis hits the city.

Just 0.9 per cent of the city’s stock of properties for rent are available — a record low that is gold for landlords but is pushing prospective tenants into increasingly desperate tactics to secure a place to live.

Professionals Newlands Real Estate Principal and REIQ Gold Coast chairman John Newlands said the rental crisis was the result of a lack of supply caused by the booming tourism and building sectors.

“There’s lots of people who are coming back to the Gold Coast, there’s more jobs and there’s more tenants then ever before,” Mr Newlands said.

Full article here.

Credit to the Gold Coast Bulletin


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