The Leasing Market - May 2022
The Leasing Market - May 2022
We are still continuing to receive good interest from prospective tenants, particularly for those advertised properties that could be considered “mid-range”. Regardless of how low vacancy rates are however, there is a point where properties simply become too expensive for some families in our area. The good news is, if an available property is not representing great value in the eyes of the market, we receive that message very quickly. A tweak to the price early on in the marketing campaign is generally all that is required to generate more enquiry and maximise the return received by our clients.
However, as our market conditions remain tight, we do anticipate affordability to become more and more of an issue, particularly given the pressure people are experiencing with their day to day living costs. Not sure about how you feel, but paying over $10 per kg for broccoli just doesn’t feel right!
The flow-on effect of these increases in fuel and groceries will be something we will be paying close attention to in the coming months.
Our most popular property this month was a 3 Bedroom, 1 Bathroom home in Runcorn.
Here are the stats:
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Advertised at $550/wk and rented out for $600/wk (A suburb record!! for a 3 bed 1 bath)
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Received 116 enquiries.
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We’ve sent 852 emails.
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We have sent 487 SMS messages.
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Received a total of 59 Applications!
