Property Management

Scarcity of rental properties

2 November 2022
by Dee Pajevikj

The REIV reports that vacancy rates in rental properties have fallen to 1.1%, well down on the 5% of just over a year ago, and the lowest since 2018.

The vacancy rate is expected to tighten further with the continued return of overseas and interstate visitors to the city. Low vacancy rates are one major reason rents rose by an average of 2.2% in the last three months. The scarcity of rental properties and the high rents being demanded are tough news for renters, but every cloud has a silver lining, and for landlords the current market is gratifying.

Houses, townhouses and high-end apartments are in great demand currently, so if you have a property that fits any of these categories and are considering renting, our experienced Property Management team will do it with alacrity and at a premium.