Rent like anything else is influenced by the principle of supply and demand. In places where supply is tight, rent is likely to skyrocket. It is a surprise that there are still suburbs in Brisbane where one can still find cheap rent.
According to Domain, a new Group data shows that suburbs in the Logan and Ipswich areas are considered cheapest Brisbane places for tenants. More specifically, tenants should look in suburbs like Inala, Wacol and Acacia Ridge for houses to rent. For example, as reported by the Domain Group, Inala is the cheapest suburb with median house rent at $320 weekly. Coming next is Wacol in which the median rent prices is of $345. Acacia Ridge for tenants is just as good with median rent at $350.
On the other hand, for those looking for units, Sandgate is a good option with a median rate of $245 and this is why it is the cheapest place to rent a unit. Next on the line is Tarragindi which has the second cheapest median at $265. Nathan is also a good choice as unit tenants will be looking at the median rate of $280 weekly.
According to Domain Group chief economist Andrew Wilson, there are two other cheap places to find rental units in Brisbane and these two have been offering low rates for tenants for quite some time. Wilson said, "The Ipswich rental market is reflected by the house price market as being the most affordable. Logan has a reasonably small unit market and has been very popular with investors - and I believe more investors will come into the Logan market."
On the other hand, Brian MacDiarmid of Inala Coulson real estate notes that since tenants are now aware of the affordability of rent in these areas, rental spaces are getting occupied fast. He said, "The area has changed a lot over the past five years, making it one of the most sought after areas in Brisbane."