RENTAL MARKET WRAP

Across the country, rental demand remains high at a continual vacancy low of 1.13%. Whilst some markets vary seasonally, overall rents have risen an average of 9% per year for the last 3 years. This is compared to a circa 2% rise during the 2000-2010 period.  Canberra has multiple markets in its vicinity but did still see an increase of 1% in the last quarter, even with an increase in new stock settling and coming to market, which while not at its peak, was achieved during its peak vacancy period proving that it remains a viable investment location !

In general, though, it is widely considered that rental increases may have reached their peak, largely due to affordability indicators, and now with the level of increases likely to be of a steadier nature in line with demand or CPI.

From a maintenance perspective, a recent ACAT hearing awarded a tenant $5714 in damages for living with a mould issue that was not remedied. Cases and outcomes like this are becoming more frequent with ongoing legislative rulings. As such, it is important for key maintenance to be addressed in a timely manner. So please reach out to us if we can assist any further with any of your queries regarding property commitments as we are here to help.

Click on the below image to see Cathie Crampton Landlord Update:

For any further information or queries please contact your Blackshaw Property Manager.