Hello I'm Karen Simpson and welcome to your February Property Management Market Update. Happy New Year to all of our Investor clients and I hope the end of 2017 was a good one and you were all looking forward to what lies ahead in 2018. Today I'm going to talk to you about what drives the most popular rental suburbs.
The start of the year is usually a busy a couple of months for rental market with students heading back to the University after their summer break and young tenants looking for new leases. Recent data have revealed the area's most in-demand preventers are within a twenty kilometre radius of their capital city. We measure the most demand rental suburbs by the number of people looking to rent and the number of rental listings available typically the suburbs most in demand have the same characteristics although regions can differ.
Generally renters are most likely to be younger than owner-occupiers and this is because of renting is something people do when they first leave home for the first time another reason people rent is that they are relocating for the first time and we see an increase in popular cities and rising from renters. So what makes our suburbs enticing? good restaurants and cafes, retailing, nightlife, transport and if you are lucky enough to have a beach nearby so if you are an investor, look for a location that appeals to renters. This will make it easier to find a tenant.
In the last seven days First National Wollongong has had 128 enquiries, 30 scheduled inspections, 52 registered tenants, 23 applications received and 5 leased properties. So until next month bye for now