With the end of the first month of 2016 just days away, we thought we’d give you a recap of how December and January shaped up for us.
While December is traditionally a quieter month with the focus being on the festive season, we finished the year with very strong numbers. In December, we received 509 enquiries, conducted 169 public home opens which attracted 161 tenants and we received 70 online applications for properties.
Our January figures reflect an overall increase in all aspects. We have received 1135 enquiries, conducted 197 public home opens of which 324 tenants registered to inspect and we have received 125 online applications.
Our vacancy rate of 3 per cent continues to be well below the metro rate of 6 per cent.
Despite evidence that the market is stabilising it is still price sensitive and tenants are in a prime position to capitalise on this. We have noticed an increase in the number of applications received for a single property as well as tenants applying for multiple properties and then withdrawing after being accepted which has meant small delays in leasing some properties. There has also been an increase in break leases and rent arrears due to job losses as well as people buying or building their own homes. We continue to educate tenants on the potential costs they may incur by breaking their lease and maintain a strong rent arrears policy.