| Bexleys is still experiencing low vacancy rates |
RENATL DEPARTMENT
As one of the largest property management companies in the Western Suburbs, we at Bexleys have both the current knowledge and past experience to offer you the best advice on how to manage your property effectively.
The Current Rental Market - May 2009
Bexleys is still experiencing low vacancy rates at the less expensive end of the market. The effect of the first home buyers buying and leaving the rental scene has had little effect on overall demand, although properties are taking slightly longer to lease than late last year.
For a comment on the middle to upper end of the market, I refer to the excerpt from The Financial Review, 25th-27th April 2009:
"The middle to upper end of the market, from about $600 a week, has lots of vacancies, mainly because the upper end is highly discretionary. It's a sector that runs really hot in good economic times and runs very poorly in recessions because it's a luxury and not a necessity. People who rent those properties are finance executives and expats and they're choosing middle-end properties or they're not choosing these properties at all. We've also seen an increase in supply of those properties as vendors turn themselves into landlords."
|
