Brisbane remains one of the tightest rental markets in the country. According to SQM Research, Brisbane’s vacancy rate was 0.9% in May 2026, against a national rate of 1.2%. Advertised rents across Brisbane were up 9.1% year on year in June 2026, with houses up 10.5% and units up 6.9%.
What’s driving demand
- Population growth. South East Queensland continues to attract interstate and overseas migration.
- Infrastructure. Cross River Rail and the build-up to the 2032 Olympic and Paralympic Games are changing which suburbs people want to live in.
- Limited new supply. Construction costs and approval times have slowed the pipeline of new rental stock.
Why a tight market isn’t a free pass
Low vacancy makes it easy to lease a property. It doesn’t make it easy to lease it well. With rent bidding now banned in Queensland and rent increases limited to once every 12 months per property, the rent you set at the start of a lease matters more than it used to. Set it too low and you may carry that gap for a year. Set it too high and you lose weeks to vacancy.
The answer is evidence: comparable rents for similar properties in the same pocket, adjusted for condition, presentation and timing.
Houses versus units
Houses have led rental growth over the past year. For unit owners, presentation, building quality and body corporate costs make a bigger difference to the net return. For house owners, the opportunity is often in what the property could become, such as an extra bedroom or a second dwelling.
What we’re watching
Affordability is the main pressure point. Rents have grown faster than incomes for several years, which may slow growth in some segments. Well-located, well-presented properties tend to hold their demand best when that happens.
If you own a property in Brisbane, your annual Property Performance Review is the right moment to check where your rent sits against today’s market.
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