Rental Vacancy Rates Plummet: Why Competition is Fierce on the Gold Coast

The Gold Coast rental market has reached a crisis point, with vacancy rates plummeting to a mere 0.8% in some suburbs, leaving would-be tenants scrambling to secure a property.

This matters now because the tourism industry's recovery has led to an influx of new residents, while downsizers and first-home buyers are also competing for a limited pool of properties, driving up demand and prices. The Queensland Government's initiatives to boost affordable housing, such as the Queensland Housing Strategy 2017-2027, have not kept pace with the growing need for rental accommodation.

In areas like Surfers Paradise, Main Beach, and Mermaid Beach, the rental market is particularly competitive, with properties in streets like Hanlan Street, Queensland Avenue, and Breaker Street being snapped up quickly. Organisations like the Gold Coast Housing Company and the City of Gold Coast's Community Housing Program are working to address the shortage, but their efforts are being outstripped by demand. The Gold Coast University Hospital and Griffith University's growing presence are also attracting new residents, adding to the pressure on the rental market.

According to data from the Real Estate Institute of Queensland, the median rent for a three-bedroom house on the Gold Coast is now $650 per week, up 10% from this time last year. In Burleigh Heads, the median rent has risen to $720 per week, while in Broadbeach, it's $780 per week. As of June 2026, there were just 234 rental properties available on the Gold Coast, down from 421 in June 2025.

Rental Market Outlook

The fierce competition for rental properties is unlikely to ease in the short term, with the Gold Coast's population projected to grow by 30% over the next 15 years. To navigate this challenging market, renters need to be prepared to act quickly when a suitable property becomes available, and to be flexible about factors like location and amenities. The Queensland Government's announcement of a new affordable housing project in the Coomera Town Centre, slated for completion in 2028, may offer some relief, but for now, renters will need to be strategic and persistent in their search for a home.