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Rents dive in Queensland hotspots

Mass lay-offs throughout the COVID-19 recession have seen rental vacancies surge and asking prices slashed.

A survey of rents in six towers in Broadbeach and Surfers Paradise before and after the COVID-19 shutdown has discovered discounts as high as 32 per cent advertised for some.

It comes as CoreLogic data shows rental listings surged more than 12 per cent between March and April.

Several vacancies have opened up especially close to employment hubs like The Star and Pacific Fair.

Before the pandemic, one-bedroom units in Boulevard North Broadbeach went for $450 a week. They are currently marketed for $350 to $390, a reduction of up to 22 per cent.

REIQ Gold Coast zone seat Andrew Henderson said the market was adjusting to a forced exodus of retail and hospitality workers.

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