The demand for rental properties in Queanbeyan has gone up over the past year.
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According to CoreLogic data, there were 240 rental properties available in April 2020. The number reduced to 168 in April this year.
The median rent for a property in Queanbeyan sits at $450 with a 1.8 per cent increase in yearly rent values.
In 2020, a median rental time for property availability would be 27 days (three months to April 2020) which reduced to 20 days a year later in the same period.
The figures reflect the recent statistics revealed in CoreLogic's Quarterly Regional Report which states that Queanbeyan-Palerang LGA, which is a part of the Capital Region, has registered at 2.3 per cent growth in rental values in the past year.
The report further revealed that the annual growth rate of combined regional dwellings, which includes the Capital region, sits at 13 per cent, which is twice more than 6.4 per cent in capital cities.
The reason behind the growth can be attributed to more people migrating to regional areas from cities through the September and December quarter.
"Regional relocation from cities to regions may also be increasingly skewed to higher-income workers, which would put further upward pressure on purchase and rent prices," the report further states.
"This is because remote work tends to be concentrated in the 'knowledge economy', such as for professionals, as well as clerical and administrative workers."
Meanwhile, the report further states that in the capital region, which includes Queanbeyan-Palerang, house values have increased by 17.5 per cent in the past 12 months to April 2021, while unit values increased by 14.6 per cent.
