Investors buying from investors won’t increase supply
Rents rose again in the September quarter (back to $430/week) as local tenant demand grows and landlords and their agents gained confidence in lifting their asking rents. Our leasing team is recording high enquiry for each new vacancy and almost always achieving higher rents.
The supply graph clearly shows this area has a reducing rental pool 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 should be expected to rise further.
Note: RTA stats quoted here cover all of postcode 4066