Brisbane’s new rent increases are due to the impact of the world’s worst drought, with prices for apartments rising from $2,500 to $3,500 a month.
The price increases are being imposed in two areas in the CBD.
In South Brisbane, the price of apartments is increasing from $1,900 to $2-3,900 a month, while in the inner city, rents are rising from about $1.60 to $1-2 a week.
Queensland’s water crisis The state’s drought is also being exacerbated by the drought, which has forced many apartments in the region to close.
On the west side of Brisbane, rents will be increasing from about three months to six months.
And in the north, rents in the outer-west are increasing from two months to four months.
But in the west, prices are expected to stay flat.
At the same time, there is a significant increase in the cost of land in the state’s north.
In Brisbane, there are more than 6,000 properties worth more than $10 million under water, according to the City of Brisbane.
That’s up from 1,000 in the first quarter of this year.
Rents for Brisbane’s rental units are up 7 per cent to $5,800 a month in the latest quarter, compared with a year ago, according the Australian Rental Council.
But a spokesman for the council says that’s because of higher rental costs than the rest of the state.
“The increase in rents is driven by increases in land value and water costs,” he said.
“In the past 12 months, we have seen significant increases in rents for all the properties under water.”
Rent rises are due mainly to increased water use in the east, according Mr McLeod.
There are about 30 water conservation properties in the city, and the city’s water management manager said that the demand for water in the suburbs is much higher than the demand in the central city.
As a result, he said, there was a significant rise in the number of properties that were being bought and sold.
In fact, there’s a strong correlation between how much water a property needs and the number in a development, he explained.
Land prices in Brisbane’s suburbs are also up by about $600,000.
Mr McLeod said that while the water situation in the river city was the most important issue, there were other problems in the south, such as rising housing prices.
However, he warned that a new building boom could mean there will be more properties being built in the future.
“There will be another boom in the housing market,” he warned.
“It will be a more active boom.”