This spring of 2022 is looking like a Rolex spring, small but useful. Tied to the Julian calendar as we all are, activity is picking up regardless of the wintery cloak our town wears. The races are coming, the roses will bloom, the heart of the market quickens in anticipation – properties are leasing quickly, spending very few days on the market if priced with accuracy. Vacancy rates are lower than at this time last year. And immigration is returning, which will further encourage demand for rental properties, particularly apartments.
Houses and townhouses are both in short supply in the rental market, so if you have one of these you’re considering renting contact our experienced Property Management team and it will be done in a trice and at a premium.
Rental prices for one and two bedroom apartments, which decreased during lockdown due to the departure of overseas residents, have increased markedly in the last year. Investors are purchasing rental properties with more confidence than in other market areas given the obvious health of the rental market.