Rental vacancies in NSW remain low

The Real Estate Institute of NSW (REINSW) announced in a statement recently, that the rental vacancy rate has remained unchanged for several months at 1.4%.

Camperdown, Australia (prHWY.com) December 8, 2011 - The Real Estate Institute of NSW (REINSW) announced in a statement recently, that the rental vacancy rate has remained unchanged for several months at 1.4%.

With the availability of rental properties in NSW, particularly Sydney, showing no signs of growth, it continues to be a great time for investment property owners.

"Despite increases in some areas, the overall rental vacancy outlook in NSW remains depressed" REINSW president Wayne Stuart said.

"The rental crisis, which has dramatically reduced housing availability across NSW, requires immediate and sustained action by both the state and federal governments," he said.

"Until then, we will see growing numbers of people competing against each other for an ever smaller number of available properties."

What does this mean to landlords?

With the demand for vacant rental properties remaining high, landlords can rest easy that property managers property managers such Exchange should have little difficulty finding quality tenants.
It is also a good time to review leases and rent levels.

Ian Comyns shares his insight into the trends:

"Now is the best time to implement rent reviews. It takes 64 days to make a change to rent amounts, which will take us into early next year, and this is when demand for rental properties is traditionally at its highest."

Exchange property sales and management is an integrated real estate sales and property management agency specializing in Sydney's inner west. It achieves great sales prices through the application of its five-step sales plan, on-time rents through its energetic attention to detail.

The team at Exchange Property Sales and Management are experts in maximizing a property's sales or leasing potential, as well as finding that perfect new home to buy or rent.

Contact Exchange Property Sales and Management on (02) 9146 5324.


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Tag Words: property management

Categories: Real Estate

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