Queensland tenants hit by extreme rent hikes of up to $150 a week

Latest Queensland rent prices have been revealed Extreme rent hikes of up to $150 a week in just three months are hammering Queensland tenants as they bear the brunt of the Federal Budget’s housing fallout. Latest data from realestate.com.au exposes the brutal knock-on effect of the May Budget, serving as a barometer of landlord sentiment. Over the June quarter, Queensland’s median weekly rent surged 1.74 per cent to hit $675, outstripping the national average of 1.59 per cent (median $660) and leaving New South Wales (1.52 per cent) and Victoria (1.38 per cent) in the dust. This house at 66 Gosford St, Mount Gravatt is listed at $675 a week Controversial investor tax changes coming into effect in 2027 restrict negative gearing deductions to newly built properties, while scrapping the 50 per cent capital gains tax discount for investors in favour of cost-base indexation. But while the post-Budget quarterly figures show a sudden shock, the annual data is even more alarming. Of Queensland’s 712 house and unit markets analysed, a staggering 681, or 95.6 per cent, recorded rent increases over the past 12 months. Just 15 suburbs offered tenants any relief with rent drops, while 16 remai...