The Leasing Market June 2021
We are still in the very fortunate position of enjoying a low vacancy rate in our area. Over the past month, the enquiry from prospective tenants continues to be strong and we are receiving multiple applications to choose from for most of our available properties.
Whilst we have been very fortunate to date, we are always aware that the rental market is cyclical in nature and without warning, we may start to see numbers drop off and the tide turn. By paying close attention to the “signs” we hope to remain ahead of the curve as much as possible. If your property is available or becoming available soon and the enquiry levels are not where we feel they should be, your property manager will be speaking with you about creating a strategy moving forward. A tweak in the asking rent may be all that is required to ensure your return is not severely impacted.
Our most popular property in June was a 1 bedroom unit located in …. Romaine, attracting 28 enquiries, 14 applications and 2 inspections.
The highest price we achieved for property during June was $550 per week, a fully renovated 3 bed, 2 bath home in Park Grove.