West End Property Management: Summer Market Update
Tenant enquiry strong as market bounces back
Our leasing team are flat out at the moment, as tenant enquiry runs at near double the levels we saw through 2020. Plenty of people want to call the 4101 peninsula home!
The latest stats show the year finished with median rents flat with a local 2 bed apartment $500/week, well down on the March 2020 peak of $540.
Our vacancies rose above 4% during the worst of COVID but that’s now just a nudge above 1.5%. So with demand ramping up through this first part of the year it looks inevitable we’ll have rent rises through 2021 and possibly beyond as well.
Note: RTA stats quoted here cover all of postcode 4101 including South Brisbane and Highgate Hill.