Rent Stress in Hervey Bay
The ABC is currently carrying a brief story about rent stress in the Wide Bay and names Hervey Bay as one of the areas where high demand for limited rental properties has led to the cost of rents going up.
To the casual observer it would seem that there are quite a few rental properties currently available in Hervey Bay. There are a number of houses around town that are displaying signs that they are for rent. There is a block of Main Street units in the centre of Pialba that have never been fully occupied since they were completed over 12 months ago and there is a modern block of units down on the Esplanade between Scarness and Torquay that haven’t been fully occupied for months.
At the same time demand business premises is at an all time high and rents are soaring. One shop in the centre adjacent to Viva Italia that will soon become vacant has had numerous people inspect it with a view to renting it and the annual rental will go from under a thousand dollars a month for the old tenant to several thousand dollars a month for whoever moves in.
