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Robust demand and dwindling supply have fuelled rental growth of up to 28 per cent across coastal areas and mining towns such as South Hedland in Western Australia in the past 12 months, and further upside is expected in the year ahead, data from CoreLogic shows.
Mining dependent towns in Central Queensland such as West Gladstone, Calliope and Gracemere also clocked strong gains of 22.2 per cent on average over the past year as FIFO (fly in, fly out) workers took up local residence to avoid lengthy quarantines.
Coolum Beach is among the country’s fastest-growing rental markets, with house rents surging by 24.2 per cent in the past 12 months.