Investor
Shire rental market update
16-Apr-2018
Our team are regularly monitoring lots of different property websites to see how the rental market is tracking and what the experts and stats are revealing! If you often do the same you would have noticed some websites say rentals are tumbling due to increased supply whereas others say it’s booming! A little confusing…we agree! There are so many different companies commenting on the market and often the ‘Sydney’ rental market doesn’t even relate to what’s actually happening right here in the Shire.
To give you a real Shire rental market wrap up with have gathered and analysed our stats of what our agency is experiencing to shed some light on how the Shire is tracking!
The number 1 factor (which has and will always be) is of course price! If the property is correctly priced the tenants will come flooding in. It’s important the property is well priced amongst similar properties in the area to attract good quality tenants. That’s not to say the high end properties aren’t leasing. If they are priced within market value they are leasing just as well! We have just leased 1 Iluka Place, Cronulla for $1,500 per week. A gorgeous 5 bedroom home which we received 10 applications on and was leased within the first week!
We are also seeing location as a major influence and contributing factor to the number of applications we receive on a property and people through the open home. Cronulla is still the number one desired suburb in the Shire as well as waterfront properties along the Port Hacking. Any properties whether it be apartments or houses, will always have a large number of prospective tenants apply and we find they lease quite quickly as well.
With all the new development taking place around the Shire, houses for lease are in big demand as the supply is so low. If you have the location and price correct, these are snapped up straight away with premium tenants!
Our team are always available to chat with if you have any questions or would like a market update in your area.
To give you a real Shire rental market wrap up with have gathered and analysed our stats of what our agency is experiencing to shed some light on how the Shire is tracking!
The number 1 factor (which has and will always be) is of course price! If the property is correctly priced the tenants will come flooding in. It’s important the property is well priced amongst similar properties in the area to attract good quality tenants. That’s not to say the high end properties aren’t leasing. If they are priced within market value they are leasing just as well! We have just leased 1 Iluka Place, Cronulla for $1,500 per week. A gorgeous 5 bedroom home which we received 10 applications on and was leased within the first week!
We are also seeing location as a major influence and contributing factor to the number of applications we receive on a property and people through the open home. Cronulla is still the number one desired suburb in the Shire as well as waterfront properties along the Port Hacking. Any properties whether it be apartments or houses, will always have a large number of prospective tenants apply and we find they lease quite quickly as well.
With all the new development taking place around the Shire, houses for lease are in big demand as the supply is so low. If you have the location and price correct, these are snapped up straight away with premium tenants!
Our team are always available to chat with if you have any questions or would like a market update in your area.