We’re Keeping You Up To Date I Here’s What’s Happening In Today’s Rental Market.

By Ellen Blundy | August 2023

As we come to a close of the first few months of the new financial year, we welcome a little more sunshine and some stability for our investors as interest rates hold for a second consecutive month.

The first six months of 2023 were a bit of a doozy for property owners and the real estate industry in general. It seems every which way we turn, there is something going on that is impacting the return even the smartest investor can expect from their property portfolio.

Understandably, there is a high level of concern in the community about the shortage of available properties to rent in many areas. For some, the nightmare of not knowing where they are going to be living in the near future, is very real and we would not wish that upon anyone. And although for many of our investor clients, the high demand for properties has meant they have been able to partially offset the interest rate increases we have been hit with over the past 12 months, the rising costs of just about everything else is being felt. Whether it’s council rates, tradies invoices or insurance, prices are going up everywhere.

Let’s hope in the coming months, things settle down a little. The experts seem to think we will soon see interest rates peak and some suggesting it will be July next year before they start to reduce again. We’ll just have to wait and see what the Reserve Bank decides to do, whether they are confident we have reduced our spending enough to warrant pausing the hikes soon.

For more information on what’s happening in today’s property market, get in touch with our expert team on 9707 5300.