Armidale Property Management Wrap Up February 2021

February has been a busy month for our team of investment specialists here in the New England, and what an exciting time to be a landlord!

Professionals Armidale leased 27 properties for the month of February, with a high demand for well-presented 4 bedroom, 2 bathroom, and 2 garage properties priced $450 – $500 per week. 2 bedroom units priced between $250 – $280 per week have also seen significant enquiry.

CoreLogic’s February 2021 report shows that rental markets are tightening across the country. The national vacancy rate sits at 2.5% currently, with regional NSW averaging 6.5%. Professionals Armidale vacancy rate for February 2021 averaged 2.7%.

“Our property management philosophy is simple – to minimise arrears, vacancies, and expenses, and to maximise your return”

ME banks latest quarterly report suggests that 58% of investors feel confident in the property market. This figure is up 15% from the previous quarter. I expect that a large reason for the increase in confidence results from the RBA nailing interest rates to record low levels until 2024.

According to the Australian Bureau of Statistics, 3 out of 5 of the 7,782 people that left the greater Sydney region have moved to regional NSW.

Corelogic’s February report states that regional areas of Australia have seen housing values rise more than 4 times the pace of our capital cities over the past 12 months. Regional NSW has seen a 9.5% increase in house prices since January 2020.

For more read our monthly newsletter to landlords: Pro Arm Landlords Newsletter FEBRUARY 2021