Professionals Armidale 
The current housing crisis in relation to rental properties in Armidale has seen a slight easing with the number of advertised rental properties significantly increasing in the last four weeks.
On May 30th, there were 47 properties advertised for rent in Armidale. As of June 29th, there were 79 properties advertised for lease in Armidale according to realestate.com.au
Professionals Armidale leased 16 properties for the month of June. Our vacancy rate ranged from 0.28% to 0.85% for the month. Statistically, each vacant property of Professionals received an average of four applications per week. Reserve Bank Governor Philip Lowe has stated that inflation currently sits at 5.1%, however, the RBA has upgraded its forecasts to reaching 7% by the end of the year.
“Our property management philosophy is simple – to minimise arrears, vacancies, and expenses, and to maximise your return”
Chief economist Dr Andrew Wilson says that the latest 18 months of inflation can be described by five main themes:
- High goods spending into constrained supply.
- Increased demand for residential property.
- Reopening pressure and ongoing pandemic impacts across service and travel industries.
- Reduced labor supply and tight labor markets.
- Additional increased energy and food prices emanated from Russia/Ukraine.
The NSW stamp duty reform will commence on January 16th, 2023. In the past two decades, properties owned by first home buyers under the age of 35 have declined by 6%. Is this a tactic the government is using to drive a mini housing boom for 2023?
For more, read our monthly newsletter to landlords:
Professional Armidale Landlords Newsletter – June 2022
By Jamie Williams
Director
Head, Property Management / Investment Specialist
Professionals Armidale
M: 0481 173 322
P: 02 6772 4549
