Rental Market Bounces Back

The Real Estate Rental market is seasonal. During the summer months the market is in an upward trend, during the winter months the market is in a down ward trend.

January, February and March months traditionally are our strongest leasing period. Even though coronavirus has had an effect on tourism and student intake into our universities, the rental market in Sydney’s Eastern Suburbs has rebounded back strongly, with properties being leased in record amounts of time.

According to Head of Property Management Damien Caruana, NGFarah leased 91 properties in January alone, eclipsing the companies record in 1 month! We’re getting multiple applications for most our properties, our open houses are busy and our vacancy factor is on the decline.

Damien said “Rentals are still stable but this is a good sign for Landlords.”

Over the past couple of years the building and development sector has slowed down and the amount of brand new apartments coming on the market for lease has reduced significantly. This is keeping pressure off rentals and according to NGFarah rentals could start rising at the back end of 2020.

At NGFarah we manage properties across the Sydney Metropolitan area and have a team of 20 Property Manager’s & Leasing Consultant’s and over 100 years of combined experience.

Our focus is ensuring our clients properties are leased quickly but also taking time to ensure we find a good quality tenant and the rentals are in line with current rental market conditions.

If you have a property to lease or are looking for a property manager, call Damien Caruana or James Daniel.