Rentals Being Snapped Up!

Property investors are enjoying strong demand for their rental properties right now, with that demand expected to further increase.

The number of homes available to rent has been trending lower since the pandemic began, with listings in July 2022 31% lower than March 2020, according to realestate.com.au.

As a result, tenants are being forced to compete harder, which is leading to rising rents and lower days on market

"Australia-wide properties are renting faster than ever, and the number of days it took a rental property to be leased after it was listed on realestate.com.au in July hit a historic low 19 days,” according to the portal.

REA Group senior economist Eleanor Creagh said a “surge” in international student arrivals would add further pressure to tight capital-city rental markets.

“In fact, overseas searches to rent have also skyrocketed in recent months, in the last six months compared to the six months prior overseas rental search volumes are up 59% with the borders having reopened,” she said.

If you’re looking at buying an investment, have a chat with Sam from Mortgage Innovations

Samantha Richardson

0414 642 342

samantha.richardson@mortgageinnovations.com.au

Article from Mortage Innovations