The Residential Tenancy Authority (RTA) data for the post code of 4006 includes Newstead, Fortitude Valley, Bowen Hills and Herston, due to the data being collected on a postcode basis. In the most recent December 2013 quarter, the postcode of 4006 showed a rental premium over the Brisbane LGA of 24.1 per cent for one bedroom apartments and 24.2 per cent for two bedroom apartments.

Looking closer at this data, referring to the postcode to represent the Newstead Catchment is misleading, as it is affected by neighbouring suburb stock that is somewhat different to the catchment’s apartment market. The Newstead Catchment is regarded as an established owner occupier and premier rental market, as the region records an approximate 51 per cent of its residents as renting. Newstead and Teneriffe outperform their postcode catchments for median weekly rent as they encompass a high proportion of white collar, high income professionals and subsequent family structures that are classified as double income no kids (DINK).

Research shows that specifically looking at the apartments within Newstead and Teneriffe highlights the rental premium that new and near new apartment product within Newstead Catchment has over the RTA weekly rental data for the post code of 4006.

New and near product in particular is currently indicating premiums of between 31 per cent for one and two bedroom apartments in comparison to the RTA’s 4006 figures for the December quarter 2013. The weekly premium for apartments within the catchment highlights the value that potential tenants attach to location, lifestyle and quality apartment stock.

New and near product is indicating premiums of 31 per cent for one and two bedroom apartments