Rental Update

Vacancy rates in the rental market continue to hold at record low levels and there is a marked shortage of quality houses and apartments on offer for renters. Central heating and cooling has become a must for potential tenants, so if you have a rental property this is the most judicious improvement you can make. At present the demand is greatest in the school catchment zones of Malvern, Hawthorn and Richmond, where tenants are typically searching for a month or more before finding a suitable property. With Spring we generally see a further strengthening of rental demand, so at Abercromby’s we are advising tenants to contact Myles Crowhurst on 9864 5353 or 0433 916 155 now about leasing prestige property before blue skies harden the market further.