Professionals Armidale 
In February 2021, Professionals Armidale leased 27 properties. 24 properties were leased in February 2022.
In the blog written for February 2021, I mentioned that rental markets were tightening across the country. The national vacancy rate was 2.5% with Regional NSW averaging 6.5%. Professionals Armidale averaged a vacancy rate for the month of February 2021 of 2.7%. In February 2022, our agency’s vacancy rate has decreased to 0.85%
“Our property management philosophy is simple – to minimise arrears, vacancies, and expenses, and to maximise your return”
1 Argyle Place is a 300sqm home comprising of 4 bedrooms, 2 bathrooms and 4 car garage. This property was leased in less than 7 days on the market for $600 per week. 2/6 Lara Ave is a 2 bedroom, 1 bathroom, 1 car garage, duplex. This property was leased in 2 days at $340 per week, which represents a 5% increase on the previous 12-month lease.
The RBA has warned that the current tenant housing crisis may worsen, which in turn could put a fresh spike into rental prices as the opening of international borders allows for new international migration and foreign students which will increase population growth.
The rush to lock in fixed interest rates is accelerating. Mortgage brokers are seeing both investors and owner occupiers “irrationally” switch from low-cost variable loans to higher fixed-rate mortgages despite the likelihood of the overall annual repayments most likely increasing.
At Professionals Armidale, our property management team has over 95 years’ of combined experience. Our Property Management Philosophy is simple – to minimize arrears, vacancies and expenses and to maximize your return! To speak with one of our investment specialists, contact the office on (02) 6772 4549.
For more read our monthly newsletter to landlords:
Professional Armidale Landlords Newsletter Feb2022.
By Jamie Williams
Director
Head, Property Management / Investment Specialist
Professionals Armidale
M: 0481 173 322
P: 02 6772 4549
