The REIQ vacancy rates for September 2016 are out and they make for some interesting reading. Gold Coast vacancy rates have eased from 1.4% in June to 1.7% in September which is a fairly healthy increase, although well below a balanced market which is commonly estimated at 3%. The worst major regions remain the resource areas which have a huge hangover. Gladstone at 8.9% and Mackay at 6.9% are the worst affected followed by Rockhampton at 4.6%.The tightest market in the state is the Caloundra Coast at 1.2% followed by the Sunshine Coast at 1.5%. Click here to view the REIQ master vacancy form from June 2008 to September 2016. The First National Palm Beach rate at September 30 was 0.90% which remains significantly below the Gold Coast average. Dorothy Hamilton, Director of Property Management attributes the low vacancy rate compared to the market, to the very advanced software we use to manage all of our enquiries. The technology allows us to use the data we collect to remarket new properties to tenants looking to rent, rather than wait for them to find the properties on the major portals such as realestate.com.au and domain.com.au as well as our own website. Mrs Hamilton said this software lets us handle up to 2000 enquiries a month in a prompt and professional manner. She cited our high ratings on independent satisfaction surveys from new tenants and our outstanding arrears rates as evidence that First National is not sacrificing service quality to achieve these results, in fact, just the opposite. Mrs Hamilton said the rentals in the area are in such high demand that her team is fielding up to 100 enquiries a day. “We have an open house in North Palm Beach for a two bedroom unit handy to the Gold Coast Highway that has more than 100 groups booked to attend.” There is nothing to suggest this trend is going to slow down any time soon. by David Hamilton Palm Beach Vacancy Rates Are Now What? palmbeachfn.com.au January 2017 First National Palm Beach 15 Palm Beach Ave Palm Beach, Queensland 4221 Phone: 07 5559 9600