Leasing Statistics & Rental Update – August 2023
August maintained high levels of enquiries and inspection turnouts across the Adam Charles leasing portfolio.
As influx of international students has reduced, due to having settled into the second semester of tertiary education, there has been a decrease in competition for student accommodation. Despite this, the residential leasing market continues to remain incredibly tight, seeing only a minor increase in vacancy. Overall vacancy rates across our portfolio remain at 1% this month. August saw a continued demand for fully and semi-furnished apartments, allowing for a further increase in asking rents in the future.
July Highlights:
- Enquiries serviced = 706
- Open inspections = 149
- Total tenants inspected = 440
- Applications received = 135
- Apartments leased = 34