Coast’s most affordable suburbs hardest hit by rental crisis

Country charm with a white picket fence … rent it while you can. This rental property at 5 Wangi Way in high-demand Coomera is available for $695 per week.
The Gold Coast’s most affordable pockets have been hardest hit by the rental crisis gripping the city.
New data shows the northern corridor suburbs of Coomera, Ormeau, Pimpama and Upper Coomera faced the biggest shortage of rental properties amid huge demand from tenants.
Traditionally regarded as a renter’s haven, surging levels of interstate migration have put the squeeze on these suburbs, with existing rental properties snapped up by owner-occupiers, and would-be home buyers forced to rent due to soaring house prices and a lack of properties for sale.
This modern family home on a huge block at 21 Macleay Circuit, Upper Coomera is renting for $980 per week.
ABS data shows QLD’s population swelled by an average of 583 residents per week, with 30,000 NSW residents and 23,771 Victorians moving north over a three-month period in 2021.
Meanwhile, rental vacancy in the Coast’s north plunged to just .6 per cent in August, SQM Research data shows. Vacancy for the southern suburbs dipped to .5 per cent, and 1.1 per cent in the central suburbs.
REA Group data shows Coomera faced the greatest shortage, with total rental listings down 48 per cent since last year, while views per listing on were up 153 per cent.
This five-bedroom home at 28 Oxford St, Pimpama is for rent for $730 per week via LJ Hooker.
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In Ormeau, listings were down by 25 per cent, while views were up 132 per cent.
REA Group economic research manager Cameron Kusher said dwindling supply would push rents higher, forcing those on a budget to move further towards Logan city or Brisbane’s outskirts. Median weekly rent for a house on the Gold Coast is now $580, up 8.41 per cent from 12 months ago.
“Ultimately while supply is tightening but demand is still strong, the cost of renting is going to increase,” Mr Kusher said.
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“We’ve had a lot of people move up from NSW and Victoria who haven’t necessarily purchased a property yet….prices are still really cheap here compared to what the same property would be in Sydney and Melbourne.
“But for people on a tight budget, they are going to be pushed further out. The reality is a lot of these places coming up on the list are the cheapest places to live on the Coast,” he said.
Ray White Pimpama agent Jason Atkinson said demand for rental properties in the northern suburbs had outstripped supply of new housing development for the first time in recent years.
In addition, properties formerly owned by investors had sold to first home buyers taking advantage of government incentives and low interest rates to get a foot on the property ladder.
Four bedrooms and a pool for $850 per week at this Arundel rental property at 70 Chichester Drive.
“In the past it has been quite easy for tenants to find a property because there were so many new builds coming in, but now we would definitely welcome future residential development in the area,” Mr Atkinson said.
“This was one of the only spots on the Gold Coast where you could still buy a house for under $500,000, and although that’s been great for people trying to get into the market, unfortunately tenants or people trying to find a rental property are the ones who have come off second best.”
Mr Atkinson said prospective tenants could expect at least 50 other applicants vying for any rental listing, among them families who had recently sold their own homes.
A four-bedroom waterfront home with swimming pool is available to rent for $1,100 a week at 64 Allawah St, Bundall.
While the worst shortages were mostly in suburbs where rents are comparatively low; a number of central suburbs were also in crisis.
More rental properties were desperately needed in Arundel, Benowa and Bundall, according to REA figures.
Rental listings in Bundall fell by 56 per cent from 2020, with views per listing up 119 per cent.
In Arundel, listings were down 44 per cent, and views up 127 per cent.
This home near the golf course at 2011 The Boulevard, Benowa is for rent for $1,400 per week.
Amir Prestige principal Amir Mian said it was now common for tenants to submit rental applications before even inspecting the property.
“The shortage we’re now facing is driven by sellers who are struggling to find another home to buy in this market, or who just want to rent so they can take the time to find the perfect home without rushing,” Mr Mian said.
“Some of these sellers are willing to pay six months to one year of rent in advance to secure something, and also we are seeing more tenants staying put while the demand from people moving to QLD from interstate is also very strong.”
Upper Coomera

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