Sourced from Residential Tenancies Authority
Median rents in mining areas have dropped to below 2010 levels after peaking during 2012 and 2013, according to March quarter 2015 rental bond data from the RTA.
There has been an average drop of 36% for median rents in Mackay, Emerald, Gladstone and Mount Isa between the peak of the mining boom (2012 and 2013) and 2015.In Mackay, median weekly rent for a 2 bedroom unit was $230 in the March quarter 2015, $50 less than in the same quarter 5 years ago and $120 down on the 2012-13 peak of $350.
Similarly, median weekly rent for a 3 bedroom house in Mackay was $320, $55 lower than in March quarter 2010, and $150 down on the $470 peak in the March quarter 2012.In Emerald, median rent for a 2 bedroom unit was $200, 33% lower than for the same dwelling type in 2010.
Three bedroom houses in Emerald had a median weekly rent of $260 in the March quarter this year, $120 (31%) down on the 2010 March quarter and 48% lower than the peak of $500 in the March quarter 2012.Gladstone rents have also dropped over the past 2 years, with 2 bedroom unit median weekly rent falling from $400 (March quarter 2013) to $250 (March quarter 2015), a drop of around 37%.
In Mount Isa, 2 bedroom units median weekly rent fell 27%, from a high of $400 in March quarter 2013 to $290 this March quarter.Median weekly rents for 3 bedroom houses in Mount Isa have dropped $140 (24%) per week from their peak of $570 in the March quarter 2013 to $430 this March quarter.
Meanwhile, median rents have continued to rise slightly in Brisbane over the past half decade.