Professionals Armidale 
It appears as though the rental market is beginning to soften coming into the winter months which reminds me of how the Armidale market performed pre-covid. Professionals Armidale has received less than 90 applications for the entire month.
This is a significant decrease on previous months in 2022, considering in February we received 80 applications in one week. With an election this month, once again interest rates have found their way into the limelight of the media.
“Our property management philosophy is simple – to minimise arrears, vacancies, and expenses, and to maximise your return”
Some media outlets have mentioned that an interest rate rise may be coming pre-election and should this be true, we will hear an announcement made on May 3rd. With limited wage growth and a dramatic increase in inflation (primarily due to covid restraints in supply chains driving up the cost of fuel prices, groceries and building supplies) can our economy handle an immediate interest rate rise?
Proptrack economist, Paul Ryan has recently stated that regional areas continue to outperform cities with property price growth. When the pandemic began, lockdowns and working remotely made living in an expensive city less desirable. Smaller cities such as Adelaide and Brisbane also continue to outperform larger cities.
According to the 2022 Dermographia International Housing Affordability report, Sydney was ranked second as the least affordable housing market in the world. The report is based on the ratio between house prices and income. Melbourne, Adelaide, Brisbane and Perth also featured in the top 20.
The unemployment rate remains at 4% in March 2022, according to the Australian Bureau of Statistics. According to a recent report from the ABS Labour Force, Australians aged 15-24 years have increased employment by 4.6% since March 2020 and Australians aged 25-64 years a further 1.9% since March 2020.
For more read our monthly newsletter to landlords:
Professional Armidale Landlords Newsletter – April 2022.
By Jamie Williams
Director
Head, Property Management / Investment Specialist
Professionals Armidale
M: 0481 173 322
P: 02 6772 4549
