Renters who abandoned the Gold Coast market are now returning, but with tighter budgets in mind for their accommodation.
While the housing rental market was largely unaffected during the pandemic period, units in beachside suburbs including Surfers Paradise and Broadbeach bore the brunt as out of work hospitality and retail workers were forced to vacate.
This modern furnished two-bedder on 3/8 Leonard Avenue, Surfers Paradise is listed for $380 per week.
Real Estate Institute of Queensland Gold Coast zone chair Andrew Henderson said vacancy rates have decreased as people return to work but the market is noticeably price sensitive.
“I think people are looking very carefully at their overall spending and rent is one
of those areas where they have been quite careful in how much they want to spend,” he said.
“If you price something a little bit high you don’t get the level of interest as if it was priced to meet the market.”
Current data from realestate.com.au offers a snapshot of median rental prices across the Gold Coast over the 12 months to July.
This one-bedder in Molendinar includes WiFi, power, water, a TV and DVD player and courtyard for $350 per week. Picture: realestate.com.au
The most affordable suburb in which to rent a unit is Molendinar, where the median weekly rent is $380.
A search on realestate.com.au shows pickings are slim, however, with a one-bedroom, one-bathroom unit the only offering in Molendinar at $350 per week.
Ideal for a student, the rent for this self-contained furnished unit includes Wifi, power, water and a courtyard.
Nearby Nerang offers the next cheapest digs, with weekly rent setting you back $385 a week. There are currently four listings priced between $300 and $480 per week for three bedrooms with a large yard on Gilston Road.
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The northern Gold Coast offers plenty of affordable locations for unit dwellers, including Pimpama ($385), Labrador ($395), Coomera ($390), Parkwood ($400), Arundel ($410), Oxenford ($410), Upper Coomera ($410) and Coombabah ($420) and Runaway Bay ($425).
For a more central location, median unit rentals in Southport cost $420 per week while $430 will get you even closer to the beach in Surfers Paradise.
While prices are slightly higher, renters are spoilt for choice with more almost 500 units and apartments currently available for rent in Surfers Paradise and 300 listed in Southport.
Weekly rent of $350 buys a one-bedder with a golf course view and use of Surfers Fairways East Resort in Clear Island Waters.
Renting by the Surfers Paradise Golf Course in Clear Island Waters presents as good value with a media rate of $400 per week. There are four units available on Fairway Drive priced between $340 and $380 per week.
A renovated and furnished one-bedroom unit for $380 in the Surfers Fairways East building at 13 Fairway Drive enjoys use of the resort pool and sauna as well as easy access to the golf course and tennis courts.
The post Top 10 most affordable suburbs to rent a unit on the Gold Coast appeared first on realestate.com.au.