Two Months’ Notice Now Required

As of October 2022, tenants must be given two months’ notice before they can vacate a property. This is a significant change from the previous requirement of four weeks’ notice. This change in legislation is aimed at providing tenants with more notice and time to find a new place to live. It also allows landlords to plan for the turnover of tenants and to prepare the property for the next tenant.

Vacancy Restrictions After a Sale

Another change in legislation is that if a tenant is given notice to vacate due to a sale, the property cannot be re-rented for the next six months. This ensures that the property is only occupied by the new owner and not rented out during that time — giving the new owner time to make any necessary repairs or renovations before renting the property out again.

Vacating for Renovations or Owner Occupation

Tenants can also be asked to vacate for major renovations or if the owner or a family member wishes to move in. This provision in the legislation allows landlords to make necessary changes to their property. However, the landlord must still provide the tenant with the proper notice, as outlined in the legislation.

The changes in legislation regarding notice required before a tenant must vacate a property are aimed at providing tenants with more notice and time to find a new place to live, while also allowing landlords to plan for the turnover of tenants. At Pure Real Estate, we strive to stay up-to-date on all changes in legislation to ensure that we are providing the best property management services for our tenants and clients.

Disclaimer: The information provided is intended to be accurate and helpful. It is the responsibility of the reader to verify any information before making any decisions or taking any action.

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Wavell Heights House Market

In the past month, there were 71 houses available for sale in Wavell Heights, and 188 were sold over the past 12 months. The median time on the market for houses in Wavell Heights was 40 days, and there were 3,336 buyers interested in properties in the area. The rental yield for houses in Wavell Heights is 3.0%, with a compound growth rate of 21.9% over the past five years.

Wavell Heights Unit and Apartment Market

If you’re interested in units and apartments, Wavell Heights is still a good option. The median price for units in the suburb was $430,000 over the past year, and there were 4 units available for sale in the past month. 21 units were sold over the past 12 months, and the median time on the market was 46 days. There were 255 buyers interested in units in Wavell Heights, and the rental yield for these properties is 5.1%, with a compound growth rate of 1.2% over the past five years.

Why Invest in Wavell Heights?

Overall, Wavell Heights is a strong market for both houses and units. It’s a great place to invest in real estate, with solid compound growth rates and strong buyer demand. If you’re considering buying or renting property in Wavell Heights, there are plenty of options available to choose from.

How Pure Real Estate Can Help

Pure Real Estate is a specialist real estate agency that focuses on properties in Wavell Heights and the surrounding suburbs. We offer a range of services, including property management and sales, to help our clients make the most of their real estate investments. Our team of property managers and sales agents are highly knowledgeable about the Wavell Heights real estate market and are dedicated to providing exceptional service.

Curious about the Wavell Heights or Brisbane northside property market? Get a free property appraisal from Pure Real Estate and see what your property is worth.

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