Queensland’s rental market has reached a new milestone — and not a comfortable one for renters. The statewide vacancy rate has tightened to just 0.9% in September 2026, the lowest level on record, even as the sales market has cooled and broader economic conditions have become more challenging.
What 0.9% Actually Means
A vacancy rate of 0.9% means that for every 100 rental properties in Queensland, fewer than one is available at any given time. The Real Estate Institute of Queensland considers a healthy vacancy rate to sit between 2.6% and 3.5%.
| Vacancy Rate | Market Condition |
|---|---|
| Below 1.0% | Severe rental shortage — current Queensland position |
| 1.0%–2.5% | Very tight — strong landlord advantage |
| 2.6%–3.5% | Healthy balanced market (REIQ benchmark) |
| Above 3.5% | Tenant advantage — more choice and negotiating power |
When Will It Ease?
CBRE forecasts that Brisbane’s vacancy rate will remain at or below 1.0% until at least 2031, driven by population growth that continues to outpace new housing completions. Inner-city dwelling supply is projected at just 3,100 new completions per year between 2026 and 2031 — well below what the city’s population growth demands.
What Tenants Should Do Right Now
Annual rent growth of 6.4% in Brisbane sits above the national average. For tenants on periodic agreements facing their annual rent review, understanding your rights is critical. You cannot be increased more than once per 12-month period, and you must receive proper written notice. For a full guide on rent increase rules, see our post on Navigating Rent Increases: Understanding Queensland’s 12-Month Rule.
For tenants approaching lease renewals, maintaining a positive rental history and communicating proactively with your property manager about your intention to renew can make the difference between retaining a well-priced property and being forced back into a deeply competitive market. Read our tips on the Queensland rental application process if you do need to search.
At Sapphire Estate Agents, we manage our rental properties with fairness and transparency for both landlords and tenants. If you have questions about your tenancy, contact our team today.
