Newspaper article The Chronicle (Toowoomba, Australia)

Growth in Rental Returns Gladdens Market Investors

Newspaper article The Chronicle (Toowoomba, Australia)

Growth in Rental Returns Gladdens Market Investors

Article excerpt

The tightening of the rental market in the region is expected to continue with vacancy rates falling to around the 1.6 per cent mark for the second time this year.

aA vacancy rate at 1.6% or lower indicates that the market is fundamentally undersupplied and that, on average, a property will be vacant for just over five days in a 12-month period.

In our experience this is almost the bare minimum required to move tenants out, make good if required and then relet to new tenants,a Kelly Murphy, business development officer for LJ Hooker Toowoomba, said.

aThere is still strong demand from quality tenants, which is really heartening as May and June are often the slowest time of the years,a she said.

Rental returns for property investors have increased significantly over the last quarter according to the Australian Property Monitor's Rental Price Series Quarterly report with rental prices rising by more than 2% across the nation throughout the March quarter. …

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