Leasing Statistics | June 2022
June saw strong enquiry rates across the Adam Charles leasing portfolio, and large inspection turn outs. Increased competition for rental properties is resulting from increasing numbers of international students entering the country and an undersupply of affordable housing, forcing those unable to purchase property into the rental market. As a result, Inner city suburbs have seen sharp rental increases over the quarter, with apartment prices rising 5%.
The continued strength of the residential leasing market is underpinned by record low vacancy rates across metropolitan Sydney, with demand outweighing supply. Currently, vacancy rates across our portfolio stand at 1%.
June Highlights:
- Enquiries serviced = 1011
- Open inspections = 87
- Total tenants inspected = 470
- Applications received =226
- New leases signed = 31
- Average turnaround time between tenancies = 5 days