Rental pain is easing in Jimboomba, with the highest vacancy growth in Queensland last month, but renters across Logan are still suffering.
Meanwhile, local sales agents report an increase in owner-occupiers.
A recent Suburbtrends rental pain report revealed the Logan suburbs of Eagleby, Woodridge and Logan Central have among the worst rental conditions in the state – again.
In Eagleby, for example, rent comprises 42 per cent of the median household income for the suburb (anything above 35 per cent is considered unaffordable) and a vacancy rate of just 0.61 per cent.
This indicates a market “unfavourable to renters”, according to the report, with an ideal rate being 3.5 per cent.
Some residents told MyCity Logan they spend closer to 50 per cent of their income on rent.
Local sales agent Stephanie Gilbert said a recent influx in owner-occupiers, particularly first home buyers, could be pushing renters out of the market.
“When I first started selling in Eagleby there were more investors, but there’s definitely a lot more owner-occupiers currently in the market,” Ms Gilbert said.
“When I first got into the industry, a lot of owners were saying to me ‘we’re just going to get outbidded by investors’.
“But all my deals in the three months, except one, have been owner-occupiers.”
Ms Gilber said that, as an agent, it was a positive sign to see more homeowners enter the market.
“Obviously, it does put a lot of tenants in distress, but as a business we have the capacity to put people into other rentals if they do get stuck in that situation,” she said.
In Woodridge and Logan Central, the percentage of income dedicated to rent is almost as unaffordable as Eagleby, at 41 per cent.
Woodridge’s vacancy rate is a little higher at 0.83 per cent, but Logan Central’s is lower at 0.38 per cent.
On the other hand, Jimboomba recorded a 1.6 per cent growth in rental vacancies to 3.5 per cent, which the report claimed signalled a “renter-friendly market”.
Browns Plains also recorded among the highest vacancy growth state-wide over the month, with only 0.3 per cent growth.
Despite the rise, the suburb’s vacancy score remained low at 1.7 per cent.
Suburbtrends founder Kent Lardner said Jimboomba’s vacancy growth suggested a “potential easing of rental pain”.
However, he warned that high rents continued to be a major concern, especially when they consume over 30 per cent of household income.
“The impact of high rents on household budgets is profound,” Mr Lardner said.
“Many families are forced to allocate a substantial portion of their income to housing, leaving little room for other essential expenses.
“It is crucial for policymakers to focus on reducing rental costs to sustainable levels.”
Logan suburbs are frequently topping Suburbtrends’ rental pain lists.
Earlier in the year, Mr Lardner said it “revealed an alarming reality” about the city.
“Nearly every suburb area assessed scored 75 or higher on our scale, indicating that the vast majority are experiencing severe rental stress,” Mr Lardner said.
“This underscores the urgent need for targeted interventions to alleviate the housing affordability crisis in the region.”
