While Investors are continuing to face tougher lending requirements at higher rates, causing yields to somewhat soften, the great news is that our weekly rental rates are on the rise!
According to the latest CoreLogic National Rental Report, rents rose by 0.3% over the quarter; greater than the 0.1% over the previous quarter but the weakest fourth quarter for rental growth since 2014. For Adelaide investors the increase for the 2017 Oct – December quarter came in very positively at 0.9%, and this trend has well and truly continued into 2018.
Over the past 3 weeks our Rental & Leasing team have been recording some incredible results for our Landlords.
The main reason for this? A huge demand for quality homes during our peak leasing period.
From a 2 bedroom upstairs unit in the Western suburbs, attracting 30 groups through the first open and subsequently achieving an increased rent of $20 per week; To a family home in the inner South Western suburbs leasing after the first open home at $60 per week above the advertised price & previous income – this is great news for Investors.
Our Days on Market for well presented Rental properties, positioned at up to $600 per week and based close to universities or quality schools, are at an all time low and attracting high quality tenants.
If you’re an Investor or Landlord looking to maximise your return on a new, vacant investment, now is the time to secure your professional Management Company and advertise your property for rent.
Call me today for a confidential chat about what we can do for you!
Nicholas O’Hara | 0422 640 935