MARKET NEWS
Rental Market Review
Thursday, October 01, 2009
Consistently low numbers of available property over the last month have tightened the rental market to a point that our vacancy rate has fallen to the levels experienced late last year, the top of the market. Typically our office would be promoting 20 – 25 properties open for inspection on any given Saturday, across all types of accommodation. On the 12th September just 10 properties were available for viewing. Our vacancy rate is just .4%! Expect REINSW vacancy rate survey figures in the next month to drop considerably.
It has become apparent that the chronic rental shortage Sydney experiences becomes more pronounced each year, peaking even earlier than the last few months of the year. Rents will rise and choices for prospective tenants will reduce. Balmain area properties are particularly popular rental accommodation and rental growth for your investments will almost certainly rise above average in this tight environment. As Property Managers, you will note that we regularly encourage our clients to maintain their properties in peak condition and market properties with professional photography and floor plans. Your property investments are valuable and need to be treated so to take full advantage of current and future rental growth opportunities. Recommendations by your Property Manager for the upkeep and marketing of your property are made with rental growth in mind.
Our beloved receptionist of over three years, Ms Kleo Curtis has recently decided to pursue another career opportunity outside the Real Estate industry. Kleo, who also worked as a Property Manager for a number of years will be well known by many of our clients. With an infectious smile, anyone having met her will remember the experience fondly and as such will be truly missed by Cobden & Hayson management and staff. Thank you Kleo!
- Sales Market Review
- Sales Market Review
- Sales Market Review
- Sales Market Review
- Sales Market Review
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