By Clare Chapman
Building slowdown, more resources jobs put strain on housing
Mackay is heading into a rental property squeeze and prices are set to head skywards as houses become scarce.
And for those who are heading here in January or February, generally the months when Mackay receives an influx of workers, the advice is to start looking for properties now or be prepared to take your chances next year.
Real Estate agents believe the belt is fast being tightened on the rental market due to slow construction, more resources` jobs becoming available in the area and the effects of the first home owner's grants being absorbed.
Agents say rentals priced between $300 and $400 a week will be the worst affected in the squeeze, with high-end properties escaping the problems.
LJ Hooker Mackay principal Michael Rossiter said as the shortage of rental properties developed over the next few months an increased demand would push prices upwards.
"At the beginning of the year obviously things were a bit easier because of the first home owner's grants but we are seeing that getting absorbed now," Mr Rossiter said.
"We believe that by January, February and March next year we are going to be extremely short of rental properties throughout Queensland, but particularly in Mackay because we started off with a smaller vacancy factor, which means prices will be pushed even higher," he said.
Mr Rossiter said Mackay was currently experiencing approximately a one percent vacancy rate that was set to worsen after Christmas.
Elders Real Estate principal Sally Richards said a lot of people walked into her offices looking for rental properties every day.
"We're finding we are getting about five to eight people coming in every day wanting rental properties and we just haven't got the supply at the moment," Ms Richards said.
Elders property management administrator Anissa McGuire said most of those people were looking for three-bedroom homes priced between $300 - $400.
"With the amount of tenants that we have coming in, in comparison to the amount of properties, it is getting tighter and harder," Ms McGuire said.
Hugh Reilly Real Estate principal Josie Comerford also said January and February were traditionally the hardest time for tenants to find properties to rent.
"I'm already telling them that if they're going to look next year, consider coming up to Mackay and doing it now," Ms Comerford said.
"Don't wait until the week before the beginning of school because then you will be hard-pressed to find something."
"If you're going to look for something, look for it now."
Ms Comerford said the most sought-after properties were those priced up to $400 a week.
Taken from The Daily Mercury Monday, November 30 2009