Figures released by SQM Research this week have revealed that the number of residential vacancies nationally has picked back up slightly during November, recording a vacancy rate of 2.2% nationally, and 65,777 vacancies. Vacancies appear to be following the common seasonal trends expected at this time of year, where rental accommodation tends to become more available for a variety of factors.
The most predominant of these factors is that as University sessions finish for the year, many students vacate their rental accommodation as it is no longer needed over the longer summer break.
Perth and Darwin have continued to record alarming increases in vacancies, whilst many of the other capital cities have remained stable year-on-year. However, Hobart and Melbourne have recorded yearly declines. SQM Research believes the falls in Hobart most likely relate to the recovery in its local economy, in turn being benefited from the lower Australian dollar helping its local tourist industry. The declines in Melbourne on the other hand, have been a little more difficult to assess, but it is suggest by Managing Director of SQM Research, Louis Christopher, that “this may be a result of a brief lull in construction activity, or possible a recent surge in its local population.”
Louis Christopher also noted “On a year-on-year basis we are seeing rises in Darwin and Perth. The reasons for the rises in Darwin and Perth are pretty clear in the sense that it is related to the ongoing mining downturn, causing a lot of loss of employment, particularly temporary/contract jobs.”
As can be seen from the table below, asking rents in both Perth and Darwin have dramatically decreased since this period last year, both for house and units - with Darwin recording a -10.8% decrease in asking rents for houses and -0.3% for units, and Perth recording a -9.5% decrease in asking rents for houses and -9.3% decrease for units.
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties. SQM considers this to be a superior methodology compared to using a potentially incomplete sample of agency surveys or merely relying on raw online listings advertised.
AT A GLANCE
• Property management
• Rental services
• Individual solutions to fit our client's needs
• High performance property sales, specializing in sales of properties with tenants in place.
• Body corporate management
• Competitive Commission Rates
• LET FEE FOR REFERRALS, We are a business built on Referrals.
• NO Lease Renewal & Comparable Market Analysis’ Fees/Charges
• PHOTOS TAKEN ON ENTRY
• Hands on approach to all Property Investment Management and & Sales Matters.
• Tenants are shown about safety switches and water mains etc at handover at the property. We meet all tenants on site for handover.
Register your interest to receive property updates and our real estate blog.
L J Gilland Real Estate have been member agents of the Real Estate Institute of Queensland since 1996 and are holders of all appropriate Real Estate Licenses. On all matter relating to Property Management advice, it's our dedication, experience and professionalism that counts.
L J Gilland Real Estate was formed in 1996. The company is an independently owned family business based in Brisbane. Whilst the company functions in all sections of the market, L J Gilland has developed a specialty in the prestige investment market.
Being a family business, we place total emphasis on dedication, experience and professionalism in all areas, including Property Management, Sales and Body Corporate.
We find individual solutions to fit our client's needs. Being property specific rather than area specific because confining ourselves to one area simply wouldn't be giving you what you need.
L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with Tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland.
Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. We offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental appraisals, and highly professional rental management services.
Choose LJ Gilland Real Estate to Manage and or Sell your Tenanted property. If your property is managed by another Agent, transfer to LJ Gilland Real Estate and we will remove the hassle from sales and rentals aiming at the best result possible in any challenging real estate market.
We look forward to a win win relationship.
Phone: (07) 3263 6085
Fax: (07) 3263 5985
Mob: 0400 833 800
Mob2: 0409 995 578
info@ljgrealestate.com.au
The most predominant of these factors is that as University sessions finish for the year, many students vacate their rental accommodation as it is no longer needed over the longer summer break.
Perth and Darwin have continued to record alarming increases in vacancies, whilst many of the other capital cities have remained stable year-on-year. However, Hobart and Melbourne have recorded yearly declines. SQM Research believes the falls in Hobart most likely relate to the recovery in its local economy, in turn being benefited from the lower Australian dollar helping its local tourist industry. The declines in Melbourne on the other hand, have been a little more difficult to assess, but it is suggest by Managing Director of SQM Research, Louis Christopher, that “this may be a result of a brief lull in construction activity, or possible a recent surge in its local population.”
Louis Christopher also noted “On a year-on-year basis we are seeing rises in Darwin and Perth. The reasons for the rises in Darwin and Perth are pretty clear in the sense that it is related to the ongoing mining downturn, causing a lot of loss of employment, particularly temporary/contract jobs.”
As can be seen from the table below, asking rents in both Perth and Darwin have dramatically decreased since this period last year, both for house and units - with Darwin recording a -10.8% decrease in asking rents for houses and -0.3% for units, and Perth recording a -9.5% decrease in asking rents for houses and -9.3% decrease for units.
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties. SQM considers this to be a superior methodology compared to using a potentially incomplete sample of agency surveys or merely relying on raw online listings advertised.
AT A GLANCE
• Property management
• Rental services
• Individual solutions to fit our client's needs
• High performance property sales, specializing in sales of properties with tenants in place.
• Body corporate management
• Competitive Commission Rates
• LET FEE FOR REFERRALS, We are a business built on Referrals.
• NO Lease Renewal & Comparable Market Analysis’ Fees/Charges
• PHOTOS TAKEN ON ENTRY
• Hands on approach to all Property Investment Management and & Sales Matters.
• Tenants are shown about safety switches and water mains etc at handover at the property. We meet all tenants on site for handover.
Register your interest to receive property updates and our real estate blog.
L J Gilland Real Estate have been member agents of the Real Estate Institute of Queensland since 1996 and are holders of all appropriate Real Estate Licenses. On all matter relating to Property Management advice, it's our dedication, experience and professionalism that counts.
L J Gilland Real Estate was formed in 1996. The company is an independently owned family business based in Brisbane. Whilst the company functions in all sections of the market, L J Gilland has developed a specialty in the prestige investment market.
Being a family business, we place total emphasis on dedication, experience and professionalism in all areas, including Property Management, Sales and Body Corporate.
We find individual solutions to fit our client's needs. Being property specific rather than area specific because confining ourselves to one area simply wouldn't be giving you what you need.
L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with Tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland.
Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. We offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental appraisals, and highly professional rental management services.
Choose LJ Gilland Real Estate to Manage and or Sell your Tenanted property. If your property is managed by another Agent, transfer to LJ Gilland Real Estate and we will remove the hassle from sales and rentals aiming at the best result possible in any challenging real estate market.
We look forward to a win win relationship.
Phone: (07) 3263 6085
Fax: (07) 3263 5985
Mob: 0400 833 800
Mob2: 0409 995 578
info@ljgrealestate.com.au
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