Armidale Property Management Wrap Up March 2021

March has seen another strong month for the Armidale investor market with our agency conducting 96 inspections resulting in 33 properties being leased.

Two bedroom, 1 bathroom units are still gaining significant interest with a number of our two bed, one bath units being leased after the first inspection. Similar to February, four bed, two bath, and two garage properties priced between $450 – $500 per week are extremely sought after. 16 Centura Crescent fits this brief and was leased after its first Saturday open home.

The RBA has announced that investor loans for January 2021 have increased 22.7% since January 2020. The Government wants to keep the property market moving which in turn increases consumer confidence. The Australian Bureau of Statistics (ABS) has announced that household wealth increased $501 billion in the last quarter of 2020.

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

When the ABS compiles data on wealth it refers to residential property, superannuation savings, shares and other financial assets and non-financial assets such as cars and artworks. Last week the ABS also reported that unemployment fell 5.8%. The ABS also states that employment has risen by almost $120,000 jobs since January 1st 2021.

With the COVID-19 rental moratorium ceasing on March 26th, 2021, this will bring further confidence to inexperienced investors who were uncertain about terminating tenants due to arrears during the COVID-19 period. All signs are leaning towards April being another excellent month for Armidale property investors.

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