Leasing Statistics & Rental Update – April 2023
The number of enquiries across the Adam Charles leasing portfolio increased in April. The number of tenants inspected, and applications received have remained consistent, whilst the number of inspections conducted have increased.
Throughout Sydney, the monthly apartment rent has increased by 1.5%, with median rental prices sitting at $650 per week. Vacancy rates throughout New South Wales have begun to increase, with 6.2% more rentals coming on to market this month. Overall, rent increases have become more frequent and larger in size which is starting to result in the amount of increased share tenancies across our portfolio, a trend likely to continue for the foreseeable future.
Overall vacancy rates across our portfolio stand at 2.3% this month.
April Highlights:
- Enquiries serviced = 571
- Open inspections = 138
- Total tenants inspected = 298
- Applications received = 100
- Apartments leased = 20