๐ฅ๐ฒ๐ป๐๐ฎ๐น ๐๐ฐ๐ฐ๐ผ๐บ๐บ๐ผ๐ฑ๐ฎ๐๐ถ๐ผ๐ป ๐ถ๐ป ๐ฆ๐ต๐ผ๐ฟ๐ ๐ฆ๐๐ฝ๐ฝ๐น๐
Supply and demand strongly favour property investors right now, with the national rental vacancy rate coming in at a record-low 0.8% in November, according to Domain.
November was the third consecutive month the vacancy rate had been at that level.
โA chronic undersupply of rental stock coupled with strong overseas migration and rising property prices against increasing demand are driving the competitive nature of the rental market,โ Domain said.
There was a silver lining for tenants: the average number of people viewing each rental listing fell 9.3% between October and November, suggesting an easing of competition among tenants.
โHowever, a significant boost to rental stock is still required before we see a more balanced market (a vacancy rate of 2-3%). Increased investor activity and more development are needed to drive a surge in rental stock,โ Domain said.
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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.
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