Milton rental market updates: Light at the end of the tunnel for landlords
During the first quarter of the year our Property Managers negotiate a huge number of lease renewals and there’s some positive signs for our landlord clients. The market is still competitive and tenants are very sensitive to any poor presentation or maintenance issues in a rental home. But we’re now achieving rent increases for many of our clients. Usually these are a couple of percent only and in many cases it’s simply a return to pre-oversupply days.
For landlords who’ve endured sliding rents in past years however, it’s a growing light at the end of a long tunnel! We have survived a tsunami of supply of new apartments, much of it in surrounding suburbs but including an 11% increase in this postcode’s local rental pool over just the past two years. It’s an extraordinary sign of interest from tenants that we can report examples of small rent increases with such a fast market turnaround.
Like an rental estimate for your Milton property? Please contact our Milton property management team on 07 3214 6899 or email@example.com
Note: RTA stats quoted here cover all of postcode 4064 including Paddington.