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The global financial crisis continues to be the hot topic of conversation, but is it having a negative effect on Property Management Businesses?
Posted 10.03.09 by fionablayney
By Hayley Mitchell
Continuing low residential vacancy rates in Melbourne and regional Victoria coupled with falling interest rates and the slowing of house price growth have created opportunities for investors.
Melbourne’s vacancy rate for December was 1.2%, only up marginally from the 1.1% recorded the previous month but lower than the figure for December 2007 which was 1.6%.
Real Estate Institute of Victoria data reveals that, although the inner city is the most difficult place for tenants to find a rental property, this is a good thing for those who own or are looking to purchase in this area.
The REIV considers the rental market to be balanced when the vacancy rate is around the 3.0% mark, a level that has not been achieved since January 2005.
With statistics like these it is no wonder that there are still many investors looking to purchase investment properties. The question is what are you doing to ensure you are the agency of choice when it comes to decision time?
