January was an “extremely” busy month for Richardson & Wrench’s North Sydney leasing team, leasing a staggering 53 properties in the month.
New business manager Lyndy Wallis said that there might be plenty of negative press circulating about oversupply and vacancy rates, but the team at R&W North Sydney is not taking it to heart.
“We are not experiencing this trend,” she said.
“We believe if the property is priced correctly, well presented and promoted effectively, you will not have a high vacancy rate.”
Ms Wallis said that many of their properties are leased after just one open.
She said that the remarkable result in January came on the back of 1,301 online enquiries, 322 inspections, 759 people attending and 182 applications.
“We now have over 11,350 prospective tenants in our database and 39 per cent of our enquiries come directly from this database.”
Ms Wallis said that 50 of the 53 properties were apartments and three were houses, which is unsurprising for the area.
“Our tenants still come from our traditional IT and professional backgrounds, but all the construction in North Sydney has seen a lot of demand for apartments for construction workers.
“We have been engaged by a large US construction company working in North Sydney to find apartments for their workforce for the next two years — to date, we have leased seven apartments to them, and they are wanting more.”
A little over a year ago, R&W merged with First National in North Sydney to form the current R&W North Sydney office.
At the time, R&W managing director Andrew Cocks said that the partnership of the two “top-performing” offices would deliver more than 250 years of combined experience.
“It gives our network a significantly enhanced presence on the North Shore, where our offices are all outstanding performers in their respective territories,” Mr Cocks said.