DiJONES Rental market starts strong

Following recently released results from the REINSW December 2017 Vacancy Rate Survey, DiJONES Investment Management reports strong results for investors and low vacancy rates for the start of 2018. The REINSW reported availability in the Sydney metropolitan area up 0.1 percentage points at 2.2 per cent. Di Jones vacancy rate was 1.9% during this period and looks to drop even further when results for January become available.

“DiJONES Investment Management experienced less availability in our key markets of the Eastern Suburbs, Upper North Shore and Northern Suburbs. This resulted in an increased level of prospective tenants at each open home,” Head of Investment Management Bridgette Barker said.

“The upside for our investors was more choice of quality tenants and lower vacancy rates in between tenancies,” Barker added.

DiJONES is also seeing a trend of more demand in rental properties for families who have recently sold their home in strong sales conditions of 2017. Many have opted to rent rather than buy for the next 12-24 months, waiting to see what unfolds in the sales market in the new year, which has also contributed to a higher than normal demand.