THE Rockhampton region’s already tight rental market looks as though it will only become tighter according to the latest REIQ figures.

There are only 354 rental properties listed in the city and with demand increasing, agents are advising prospective tenants to be as organised as possible.

The average rental price of three-bedroom houses in the Rockhampton Regional Council area has increased from $295 in the 2010 September quarter to $340 in the 2012 September quarter. REIQ zone chairman Noel Livingston said January was Rockhampton’s busiest month in real estate.

“It’s extremely tight at the moment and it’s only going to get tighter,” he said.

“In January students are getting ready for where they need to live. January is normally the busiest month of the year – and we have a vacancy rate of (about) 1%.

“If you can get something comfortable for that price ($340 average) that’s very attractive from the tenant’s perspective.”

He said 354 rentals listed was not many, and continued demand could see prices rise. He advised landlords not to “auction” for rent.

“It all comes down to supply and demand, and demand is well and truly outstripping supply at the moment so if that continues we’ll see a continued increase in price,” he said.

“I’ve never put a rental up without a fixed priced … the whole concept (of listing a rental without a fixed price) is basically like saying ‘here’s a house for rent, let’s auction it off for the highest price’.

“But that doesn’t guarantee quality, we’re more interested as the agent for the landlord in finding the right sort of people who can afford to live there and look after the property.”

FACTBOX:

Average rental property vacancies across the region

 Gladstone – 243

 Bundaberg – 262

 Mackay – 637

 Townsville – 1066

 Toowoomba – 594