Professionals Armidale 
Competition in the Armidale rental market was still fierce in April 2021. Domain’s latest vacancy rate report shows that the national vacancy rate sits at 1.9%. At Professionals Armidale, our current vacancy rate is 1.9%.
In January 2021, our agency ran an open home at 4/161a Brown Street which resulted in 18 groups viewing. This was an attendance unlike anything we have witnessed in the Armidale rental market, however, this record has just been surpassed.
On April 27th we conducted a mid-week open home at 10 Florence Avenue which resulted in 27 groups attending.
While enquiry levels remain strong across all types of property, property that is competitively priced and presents to a high standard is highly sought after.
“Our property management philosophy is simple – to minimise arrears, vacancies, and expenses, and to maximise your return”
The Armidale investor market is still providing strong yields in comparison to other regional NSW cities. According to CoreLogic, gross rental yields for regional NSW sits at 4.3%.
During April, I was able to secure an off-market property for an investor client with a 6.3% gross yield showing that good quality property with strong returns can still be found.
As we venture into the colder winter months in the New England, with the prospect of tighter lending policies on the radar (increase in Debt-Service Coverage Ratio’s and Loan to Value Ratio’s) I expect to see a slight decrease in demand in the coming months for both sales and rental properties.
However, if the last twelve months is the new norm then the entire real estate market for regional NSW will remain strong.
For more read our monthly newsletter to landlords: Pro Arm Landlords Newsletter APRIL 2021.
By Jamie Williams
Director
Head, Property Management / Investment Specialist
Professionals Armidale
M: 0481 173 322
P: 02 6772 4549
