Leasing Statistics & Rental Update – May 2023
Across the Adam Charles leasing portfolio, the number of enquiries has remained consistent with last month. The number of tenants inspected, and total open inspections conducted have increased significantly, whilst the number of applications received has slightly decreased.
The number of rental listings has increased across Sydney, leading to a pause on growth in rental prices over the last month. Despite the recent slowdown, the rental market in Sydney is still maintaining an extremely tight vacancy rate of 1%
Overall vacancy rates across our portfolio stand at 1.8% this month.
We anticipate student demand across our city fringe assets to increase over June and July which will likely bring the vacancy rate in even tighter.
May Highlights:
- Enquiries serviced = 536
- Open inspections = 192
- Total tenants inspected = 332
- Applications received = 87
- Apartments leased = 28