Milton Property Management: Spring Market Update
Rents rebound as Milton lifestyle grows in appeal
Rents rebounded to $480/week in the September quarter as local tenant demand grows. Milton is gaining strong interest for its village lifestyle with popular cafes, bars and eateries and easy CBD access. Our leasing team is recording high enquiry for each new vacancy and almost always achieving higher rents.
While the trendline is up, the supply graph shows this area’s reduced rental pool this past quarter, and we see limited new dwelling construction that’s due to complete shortly. Investors are becoming more active in the market but for the most part our sales team are making investor to investor sales – and that doesn’t add to supply. Rents are expected to rise further.
Note: RTA stats quoted here cover all of postcode 4064 including Paddington and Rosalie.