Professionals Armidale 
It appears the Armidale rental market is back with vengeance. Professionals Armidale closed the month of April with a 2% vacancy rate. We close May with a vacancy rate of 0.85% having leased 26 properties for the month.
Regardless of inflation levels, a Federal election and the scare tactics used by the media, demand continues to heavily outstrip supplies. As of May 30th, the number of properties that are advertised for rent in Armidale on realestate.com.au sits at 47. This is the lowest number of available properties that I have seen since entering the market in 2013.
“Our property management philosophy is simple – to minimise arrears, vacancies, and expenses, and to maximise your return”
May vacancy rates for Sydney held steady at 1.6%, 1.9% for Melbourne and 0.7% for Brisbane. Brisbane’s vacancy rate of 0.7% is now the lowest on record. In contrast, Professionals Armidale vacancy rate for the month of May is 0.85%. Despite the ABS confirming a record cost of living pressure on consumers, economic and financial experts believe the RBA will increase interest rates by at least 0.6% at their meeting on June 7th.
The ANZ has retracted its optimistic outlook on further growth for 2022 predicting that property prices will drop by 11% by the end of 2023. However, house prices in some regional areas are expected to increase another 20% this year as demand continues to outstrip supply. Popular regions tipped for strong growth include Sunshine Coast, Shepparton, and the Hunter Valley
For more read our monthly newsletter to landlords:
Professional Armidale Landlords Newsletter – May 2022.
By Jamie Williams
Director
Head, Property Management / Investment Specialist
Professionals Armidale
M: 0481 173 322
P: 02 6772 4549
