Samantha Healy, Property Journalist
First published 26 Oct 2026, 1:37pm
Only one rental market in all of Queensland has been deemed “healthy”, with new figures revealing the Sunshine State’s housing squeeze is still gripping tenants from Brisbane to the bush.
The Real Estate Institute of Queensland’s September quarter vacancy report shows 48 of the 50 regions tracked across the state remain in the “tight” category, with vacancy rates of 2.5 per cent or below.
Just one area — the Bay Islands in Redland, which includes North Stradbroke, Russell, Macleay, Karragarra, Lamb and Coochiemudlo islands — scraped into the healthy band at 3.5 per cent.
A one bedroom tiny house at 9 Kift Street, Russell Island, is listed for $360 a week
At the other end of the spectrum, mining region Isaac was the state’s only “weak” market at 6.5 per cent.
But for most renters, the story remains brutal.
A staggering 34 regions recorded vacancy rates of 1 per cent or less in the September quarter, underscoring just how few homes are actually available.
Cook recorded effectively no vacancies at all, sitting at 0 per cent, while Charters Towers and Goondiwindi were next tightest at just 0.1 per cent.
Maranoa came in at 0.2 per cent and Toowoomba at 0.6 per cent.
In southeast Queensland, Brisbane’s overall vacancy rate sat at 1 per cent.
Greater Brisbane was even tighter at 0.8 per cent, while Brisbane LGA sat at 1 per cent.
The inner city recorded 1 per cent, the middle ring 1.1 per cent and outer Brisbane 0.8 per cent.
Brisbane’s rental market remains tight.
Logan came in at 0.7 per cent, Moreton Bay at 0.7 per cent, Redland at 0.8 per cent and Ipswich at 0.8 per cent.
The Gold Coast tightened to 1.6 per cent, while the Sunshine Coast eased slightly to 1.2 per cent.
Noosa remained one of the loosest mainstream lifestyle markets in the state at 2.5 per cent, just below the threshold for “healthy”.
Hervey Bay was also relatively high at 2.2 per cent, while Maryborough sat at 1.1 per cent and Cairns at 0.8 per cent.
REIQ chief executive Antonia Mercorella said the numbers showed Queensland’s rental crisis remained entrenched.
“To have just one healthy rental market in the state, and for that market to be a group of islands, speaks volumes about the shortage of rentals in Queensland,” she said.
“With every other region in the state considered tight, there is likely to be a vast mismatch between the number of renters seeking a property versus the number of lasting lease listings.”
She said the pressure was changing how Queenslanders live, with more multigenerational households forming and more friends doubling up to split costs.
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REIQ CEO Antonia Mercorella. Picture: Liam Kidston
The quarterly figures also show any signs of improvement were short-lived.
Compared with the June quarter, 21 markets tightened, 15 were unchanged and only 14 eased slightly.
Some of the sharpest falls in availability were in the Bay Islands, down 0.8 percentage points, Mount Isa, down 0.6 points, and Maroochy Coast, Sunshine Coast Hinterland, Gladstone and Burdekin, each down 0.5 points.
The Bay Islands may remain Queensland’s only healthy market, but even it saw the number of rentals available drop over the last quarter. 86 Channel Street, Russell Island, is listed for $490 a week
Caboolture and Gympie also tightened, both falling 0.4 points over the quarter.
Only a handful of markets recorded notable rises, with Isaac, Noosa and South Burnett each up 0.3 percentage points.
Ms Mercorella said the crunch was not new, noting Queensland’s statewide vacancy rate had now failed to rise above 1 per cent for 21 straight quarters.
“You have to go all the way back to the December quarter of 2019 to find the last time Queensland’s statewide vacancy rate sat in healthy territory,” she said.
She also pointed to weakening investor demand, saying new loans to investors in Queensland had fallen 10.1 per cent in the June 2026 quarter, compared with an 8.6 per cent decline nationally.
The latest report found median rental tenure also edged higher over the financial year, with houses averaging 21.2 months and units 18.4 months, suggesting tenants are staying put longer where they can.
For renters, though, the message is clear: competition remains fierce, choices are scarce, and in much of Queensland the window to secure a home is still painfully small.
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