Rental Update

We are all happy to see the 2021 lockdown winter in the rearview mirror, and to notice the metaphorical buds starting to burst forth on the rental market. Judging by the interest we have received at Abercromby’s, there is a great deal of pent up demand for rental properties that no one could inspect in the last month. And now with a stated timeline from the State Government, and a noticeable change in rhetoric from the Premier, we expect to see increased movement and in the rental market. After all, very few people are perusing rental properties when they can’t go further than 5km from their home. The cessation of that rule, among others, will free the market.

And with Allan Joyce saying that Qantas will be flying internationally by the end of the year, we expect to see international clientele ease back into the leasing market in Melbourne. Whilst there is room for optimism later this year and into next, until we are fully open, rents will remain at current levels. A strong sales market is causing a shortage of houses for rent and we expect this to remain the case for a while yet.