Discussion in 'Property Market Economics' started by DanRoger, 18th Apr, 2018.
currently seeing property market rental and selling markets are going down?
Vacancy rates or values?
I've had three western Syd units relet in Feb/March. Some rents are down, some up. Biggest factor for me is whether new apartments come online at the same time.
DanRoger, which country/city/area are you focused on?
Not in Perth
not in sydney where i am.. ie glebe and green square.
Recently increased one of my rentals by $10 per week and another one which will also increase to $10 per week, but to be fair I did have it slightly under market rent.
3 new tenants in our apartments in St Kilda (VIC) over the last few months.
1 same rent
1 up $20/week
1 up $100/week (3 tenants - a couple and their friend) in this 2 bed/2 bath rather than the 2 we normally have in)
my tenants in Sydney said they can't find the similar properties with the same rent they are paying.
Across the board of my portfolio:
- Granville unit (Sydney) - remained the same last year, previous year had $5/wk increase
- Slacks Creek & Woodridge (QLD) - had to drop about $20-$30/wk to attract new tenant
- Eagleby (QLD) - had 2 consecutive $5/wk increases over the last 2 years
- Murrumba Downs (QLD) - had 2 consecutive $5/wk increases over the last 2 years
- Newcomb (VIC) - $10/wk increase earlier this year
So it depends.
My northern Logan ones had the hardest hit unfortunately. Competing with lots of highsets around the investor heavy area.
Overall across regional NSW and I'm Qld I've experienced rental increase.
Singleton height - previously 300/wk, just renewed 340/wk,the agent also managed to secure a tenant before the previous vacate.
Moree - previously 200/wk, just renewed 240/wk.
Resbank plains - previously 300/wk, now 310/wk
Collingwood Park - previously 350/wk, now 355/wk
Separate names with a comma.