Professionals Armidale 
Welcome to 2022
With very little time taken off over the Christmas and New Year period, it did not take Professionals Armidale long to hit our stride in the rental market with 30 properties leased for January.
Tenant demand is as strong as I have ever seen – in the third week of January our Agency received 85 applications in a seven-day period. 4/161a Brown Street is a 2 bedroom, 1 bath and was popular with 20 groups attending the first open home. 12 Greaves Close is a 4 bed, 2 bath and was leased within seven days of going live to market. Professionals Armidale have also leased a number of rental properties off-market to high-quality tenants who missed out previously due to the high level of interest.
“Our property management philosophy is simple – to minimise arrears, vacancies, and expenses, and to maximise your return”
Demand is strong across all price brackets and tenants are ranging from owner occupiers who have sold now needing a property to rent, first home buyers who cannot get into the market, current tenants looking to upgrade properties and professional persons moving to Armidale for work. Surprisingly, for this time of the year, university student activity in
the market is minimal.
The forecast for 2022 sees strong speculation that the RBA will announce a rate increase in its August board meeting however several chief economists have stated that the economy is too weak to be able to survive a rate increase. The National Australia Bank have stated they believe a rate increase of 0.15% will occur in November followed by increases of 0.25% for the following two meetings. NAB are also speculating further increases over time to where the cash rate will reach 2.5% by the end of 2024.
For more read our monthly newsletter to landlords: Pro Arm Landlords Newsletter January 2022.
By Jamie Williams
Director
Head, Property Management / Investment Specialist
Professionals Armidale
M: 0481 173 322
P: 02 6772 4549
