Brisbane’s nightlife economy is booming, and renters in inner suburbs have more money to enjoy it – that’s the news emerging from two reports that have caught our attention this week.

Over the past five years, Brisbane’s night-time economy has exploded. The Australian Night Time Economy Report 2009-2014 found that money spent in Brisbane at night increased from $ 5 billion to almost $ 6.25 billion per year between 2009 and 2014. Nearly half of this has been spent on eating out. This is a larger increase than in Sydney and Melbourne, and points to a thriving leisure economy in the city. Tough licensing laws may have a dampening effect on trade in the coming months, but for now Brisbane is benefitting more than most – the night-time economy has generated billions of dollars and plenty of jobs.

It isn’t all good news for Brisbane’s entertainment and hospitality industry, though. While dining, clubs, hotels, gyms, and gambling all saw revenues rise, Brisbane’s brothels have suffered from a 25.6% decline in sales.

Meanwhile, rents in some Brisbane suburbs have begun to fall. In suburbs where apartment development has been highest, rents are tumbling. According to the report from CoreLogic RP Data, rents for houses in South Brisbane have dropped by more than 30% per week, with rents in Paddington, Bardon, and Red Hill all down by around 10%.

However, these rental price declines are eclipsed by the 37% drop in Pinkenba and the 24% fall in Ellen Grove. Pullenvale’s average rent has fallen by 15%, dragged down by the decline of the mining industry.

Good news for renters, and good news for lifestyle residents.

South Brisbane (4101)

The median house price has increased by 37.89% over the last year, to $ 1,310,000. Average weekly rental is $ 455, giving investors a gross yield of 1.81%.

The median unit price is $ 490,000, up by 0.82% over the last 52 weeks. With rent averaging $ 510 per week, investors see a yield of 5.41%.

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Red Hill (4059)

Average weekly rent for a house here is $ 550, yielding the landlord 3.53% on the median house price of $ 810,000 that is 5.88% higher than this time last year.

Average unit rental is $ 390 per week. At the median price of $ 436,500 (an decrease of 1.24% over the price 12 months ago), investors will make a gross rental yield of 4.65%.

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Pullenvale (4069)

The average house rental is $ 850 per week, at which price an investor would receive a gross rental yield of 4.53% based upon the current median price of $ 975,000 (which has increased by 4.84% over the last year).

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(Data from CoreLogic RP Data)

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