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New apartment product in West End is renting for up to 29.5 per cent more than the established median weekly rent
Further analysis of the West End rental market through the use of on-the-market rental data, which records advertised rents for new and near-new apartment
product revealed that new and near-new apartment product within the catchment is able to achieve a rental price premium over established stock. New and
near-new one-bedroom apartments within the West End Catchment have a median weekly rent of $460, which is 27.8 per cent per week higher than existing
stock. New and near-new two and three- bedroom apartments are achieving median rents of approximately $620 and $900 rent per week respectively. This
equates to a premium of 21.6 per cent for two-bedroom apartments and 29.5 per cent for three-bedroom apartments. These premiums demonstrate the value
placed on new apartment product through a growing demand from professional couples who are prepared to pay more for premium apartment stock.
New and Near New Apartment Rental Premium
JUNE 2015
PRODUCT TYPE
One Bed
Two Bed
Three Bed
BEDS
27.8%
21.6%
29.5%
Prepared by Urbis; Source:
Realestate.com.au. CoreLogic RPData
Includes suburbs of West End and South Brisbane
+Refer to Urbis report disclaimer
Average Growth Rate - Median Weekly Rent Chart
West End Postcode 4101^1 - June 05 - June 15
PRODUCT TYPE
One Bed
Two Bed
Three Bed
BEDS
6.6%
6.2%
8.1%
Prepared by Urbis; Source: ResidentialTenancies Authority (RTA)
^1 Includes suburbs of West End, South Brisbane and Highgate Hill - Established Rental Product
+Refer to Urbis report disclaimer
+DISCLAIMER
This publication is prepared on the instruction of West End Development Group Pty Ltd and is not suitable for use other than by the party to whom it is addressed. As the publication involves
projections and assumptions it can be affected by a number of unforeseen variables. The forecasts and assumptions are a prediction and whilst Urbis has made every effort to ensure that the forecasts
and assumptions are based on reasonable information, they may be affected by assumptions that do not necessarily eventuate or by known, or unknown, risks and uncertainties. It should be noted
that past performance is not necessarily a reliable indication of future performance. The information in the publication does not represent financial advice and should not be regarded as such. It has
been prepared without taking into account your financial situation or investment objectives. You should consider the appropriateness of the information in regards to your current financial situation
or needs. Urbis accepts no responsibility for the accuracy or completeness of any such material. The information is subject to change without notice and Urbis is under no obligation to update the
information or correct any assumptions which may change over time. This study has been prepared for the sole use of R & F Mega Property Pty Ltd and is not to be relied upon by any third party
without specific approval from Urbis. This publication is subject to copyright. Except as permitted under the Copyright Act 1968, no part of it may, in any form or by any means (electronic, mechanical,
photocopying, recording or otherwise), be reproduced, stored in a retrievals system or transmitted without prior written permission. Enquires should be addressed to the publishers./EMR0295