Herron
Todd White's Townsville Rent Roll Survey Report for July 2013 paints a picture
of rising rental vacancy rates to 3.75%. The reality of a slowing economy is
evident in these figures as Townsville is experiencing a short term oversupply
of unit and housing accommodation.
Landlords
and investors are advised to factor into their budgets more days on market
while their properties are being tenanted. It could also impact on the rental
prices in the market as investors compete for lower vacancy time by discounting
prices and even offering incentives to customers.
Rapid
Realty Townsville Principal, Aaron McLeod said "we have planned for a
slowing economy by offering higher exposure for our Landlords with feature
advertising, more diligent presentation of properties and enhanced focus on
"real service, rapid results" in our customer service. Responding
quickly to enquiries and receiving owner instructions rapidly is the key to
securing desirable customers", Rapid Realty's Principal said.
The
increased vacancy rates could be impacted by the supply of new houses on the
market continuing while a noticeable drop in demand had occurred leading up to
the end of financial year. Lower interest rates on borrowings are making home
ownership more affordable, causing some renters to be lured into home ownership
by the construction sector offering incentive packages in addition to the State
Government's construction home owner's grant.
Rapid
Realty's Principal said, "our Townsville office is fielding enquiries from
buyers for our newly constructed properties for sale with excellent packages
for buyers."
Moreover,
Rapid Realty expects the demand for accommodation to increase in August based
on seasonal inflows of enquiries to their Townsville office.
If you
have an investment property and want expert property management and rentals
advice, you can contact Rapid Realty at www.rapidrealty.com.au