Leasing Statistics | September 2022
Across the Adam Charles leasing portfolio, September saw a significant increase to enquires and inspection turnouts in comparison to last month. Vacancy rates continued to fluctuate, with the Sydney rental market seeing an increase in median prices, thus resulting in an overall higher cost of living. A continued demand for fully and semi-furnished apartments has also pushed for elevated rental prices.
Overall, vacancy rates saw a 0.2% increase from last month, with rates across our portfolio standing at 2.9% this month.
Moving forward it can be expected that pressure on asking rents will continue to remain high, particularly due to rapidly increasing construction costs and demand for rental accommodation.
September Highlights:
- Enquiries serviced = 707
- Open inspections = 91
- Total tenants inspected = 323
- Applications received = 161
- Apartments leased = 12
- Average turnaround time between tenancies = 5 days