Real Estate
22 June, 2026
‘Tight’ rental market
RENTAL occupancy in the Cassowary Coast region remains exceptionally ‘tight’ – with occupancy rates effectively at capacity for long-term renters.
The vacancy rate reported by real estate data analytics firm HtAG Analytics last week was about 0.49% which, in property management terms, indicates an occupancy rate of 99.51% for available rental stock.
To put the vacancy rate into perspective, the property industry generally considers a “healthy” or “balanced” market to have a vacancy rate between 2.6% and 3.5%.
A 0.49% rate signals a very high level of tenant demand and a serious shortage of available homes.
The number of rental listings is however, starting to show a glimmer of hope that rental availability could be improving in the region, at least in the short-term.
The Observer spotted around 30 properties listed online about a week ago, with a high of $1500 per week for a seven-bedroom house at Sundown near Innisfail.
At the other end of the scale, a one-bed house at Innisfail was asking $350 per week and a two-bed house at Tully was on the rental market for $365pw, while somewhere in the middle – three new houses and duplexes at Innisfail Estate and Mighell ranged from $650 to $675pw.
The highest priced unit or apartment available from the 30 was a three-bed unit at Kurrimine Beach – for $550 per week, with other units (two-bed) in the same refurbished building asking $430, $450 and $500pw.
The cheapest unit rental prices in the list were $200 and $350 for two-bedders in Cardwell and Tully respectively.
Other units and similar for rent included a $390pw two bedroom, two-bathroom unit in Poinciana Boulevard Cardwell, and a three-bedroom upstairs unit at East Innisfail (pictured) for $450pw.
Because rental demand remains high, median weekly rents for house, apartments and units have risen over the past year.
Houses: Increased by just under 8%, reaching a median of $420-$480 per week depending on the specific suburb
Townhouses: Saw a more aggressive jump of approximately 15.5%.
The Real Estate Institute of Queensland (REIQ) said earlier this year about ongoing rental price rises and falling occupancy rates that supply is continuing to fall well behind demand for rental housing stock.
“To cater to Queensland’s portion of nationally agreed construction targets we need to be building around 49,000 new dwellings each year, but with 34,000 built over the 12 months to September last year, we’re falling behind,” REIQ chief executive officer Antonia Mercorella said at the time.
“It’s time for a reset to help ease Queensland’s rental market pressures,” she said.
“By helping more first home buyers transition from renting to owning a home, it lightens the load on the rental market by alleviating some of the demand-side pressure.”
Read More: Cassowary Coast