As COVID restrictions have been eased by the government, people are beginning to move again and we are seeing an increased demand for rental properties. The apartment market however, is less energised due to continuing international travel restrictions. Vaccination of the population is the key to enlivening the rental market further. When the governments, both Federal and State, finally get their acts together and accelerate the vaccination program and the population reaches herd immunity. we will see international borders open and the ensuing rush of international students, tourists, and business executives posted to Australia will cause an exponential boost in demand for rental properties.
Meanwhile, the raft of the new rental legislation which became law on the 29th March has proven to be a confusing nest of new realities for both renters and rental providers alike. But at Abercromby’s our Property Management Team is well versed in all the new rules and our team members are happy for you to call us to help you navigate the fresh landscape. The Moratorium ended on March 28, the same day that JobKeeper payments were cut off, freeing the rental market to operate as it should.