๐๐๐๐๐ฟ๐ฎ๐น๐ถ๐ฎ ๐ฅ๐ฒ๐บ๐ฎ๐ถ๐ป๐ ๐ฎ ๐๐ฎ๐ป๐ฑ๐น๐ผ๐ฟ๐ฑโ๐ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐
The national rental vacancy rate in October was a record-low 0.8% โ exactly where it was a year earlier, according to Domain.
That means just 8 out of every 1000 rental properties were untenanted last month, highlighting just how hard it is for tenants to find accommodation โ and, conversely, how easy it is for property investors to find tenants.
Over the past year, as the table shows, vacancy rates have barely moved in most capital cities.
Domainโs chief of research and economics, Nicola Powell, said the rental market was likely to become even more challenging for tenants during the new year 'changeover period'.
โThis limits their options, keeps competition tough, and can lead to higher rent costs, added stress during the transition, and weakened negotiating power for tenants. While we anticipate a seasonal increase in rental supply in the coming months, this is shaping up to be one of the most challenging peak changeover periods tenants have ever experienced,โ she said.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weโll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
