Gladstone exodus fills rentals
NEW REIQ vacancy figures show a growing trend of people moving to Bundaberg from mining regions, experts say.
In figures released by the state body yesterday, the region's rental vacancy rate has tightened from 3.7% to 3.3% in the quarter to March this year.
Leading real estate agents in Bundaberg have attributed the decrease to sky-high rental prices and inflated rental markets in mining hot spots such as Gladstone.
Michael's Real Estate principal Michael Dempsey, also REIQ's Bundaberg zone chairman, said the figures highlighted an influx of our northern neighbours migrating to Bundaberg.
"That's certainly a trend we've noticed and it's something I think we're going to see more and more of," he said.
Affordable rental prices, a lower cost of living and the natural beauty of the Bundaberg region are believed to be behind the trend.
"It is becoming increasingly attractive to move to Bundaberg," he said.
"What we are finding is a general pattern of migration of people moving here because of the affordability of the region and for its natural environment."
Mr Dempsey said inflated rental prices in Gladstone had dissuaded many families from living there.
"We've heard of people paying up to $1200 for a four-bedroom house which is just crazy stuff," he said.
"There are people being squeezed out of Gladstone because they just can't afford to live there."