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2022-11-14 GC Agenda - Item 4 - Attachment 2 - Appendix 13 to Attachment 1
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NOOSA SHORT STAY ACCOMMODATION ECONOMIC & SOCIAL ASSESSMENT
The persistent downward trend in rental bonds lodged contrasts with the experience in broader SEQ, which
generally was trending upwards until the middle of 2020 after which it has been trending lower (Figure 2.12). The
persistent decline in the availability of rental dwellings in Noosa has created issues within the local economy as
residents and workers wanting to live in Noosa are unable to access appropriate residential accommodation.
Additional detail regarding rental bonds lodged for two bedroom flats/ units and three bedroom houses compared
to SEQ is provided in Appendix A, showing both sub-markets in Noosa have experienced similar trends in Noosa
and similar levels of disparity relative to SEQ.
Figure 2.12. All Dwellings Rental Bonds Volume by Quarter (Year Ended Volumes), September 2012 to
September 2022, Noosa vs SEQ
3,600 210,000
3,000 175,000
Bonds Lodged (Noosa)
Bonds Lodged (SEQ)
2,400 140,000
1,800 105,000
1,200 70,000
600 35,000
0 0
Sep Q 2012
Sep Q 2013
Sep Q 2014
Sep Q 2015
Sep Q 2016
Sep Q 2017
Sep Q 2018
Sep Q 2019
Sep Q 2020
Sep Q 2021
Sep Q 2022
Mar Q 2013
Mar Q 2014
Mar Q 2015
Mar Q 2016
Mar Q 2017
Mar Q 2018
Mar Q 2019
Mar Q 2020
Mar Q 2021
Mar Q 2022
Noosa Total SEQ Total
Source: QGSO (2022).
While the number of bonds lodged has trended down in Noosa, median weekly rents have been steadily climbing
and at a faster rate than in SEQ (Figure 2.13). In YE September 2012, the median weekly rent (all properties) in
both Noosa and SEQ was around $370 per week. By YE September 2020, the median weekly rent in Noosa had
increased to around $500 per week while in SEQ the median it was $420.
The pace of growth in median weekly rents has increased further in 2021 and 2022 in response to the growth in
property values and a tightening rental market. As with dwelling sales prices, Noosa has experienced a more rapid
increase in median weekly rents than in SEQ, rising from around $500 per week to around $680 per week over the
past two years. By comparison, rental prices in SEQ have increased from $420 per week to around $500 per week.
Additional detail regarding median weekly rents for two bedroom flats/ units and three bedroom houses is provided
in Appendix A, showing both sub-markets in Noosa have experienced similar strong growth relative to SEQ.
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