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Real Estate Business Awards 2021

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

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top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

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1/10
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top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Property managers adapt to falling rental market

By Staff Reporter
19 August 2009 | 1 minute read

The government’s first home owner’s grant and historically low interest rates are putting downward pressure on residential rental values nationwide.

After a sustained period of growth rental values have dipped in recent months.

RP Data’s Property Pulse Report, released today, showed that median weekly rents were beginning to fall, having dropped by as much as 6 per cent in some areas.

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Weekly house rents fell by 3.5 per cent ($15) over the June quarter, while unit rents fell 0.6 per cent over the June quarter.

The median weekly rent for a Canberra house fell from $530 in March ‘09 to $498 in June.

Just Rent Sydney director Michelle Galletti told Real Estate Business that one and two bedroom dwellings had suffered the biggest decline in median weekly rents.

“The first home buyers boost has made buying a house cheaper, so rents have to come down in order to compete,” Ms Galletti said.

“However, when rents come down many landlords do not understand why this has happened, they just notice that their bottom line has changed. That is why it is so important for property managers to have clear and transparent communication with their clients.”

Ms Galletti said it was important for property managers to make sure their property advertisements were well designed and informative to encourage people back into the market.

Property managers adapt to falling rental market
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top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

VIEW COMPLETE REPORT
1/10
Do you have an industry update?

top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.