- Posted By Jasmine Adams
There is no argument that the rental market in Broome for the past 6 months has picked up pace and appeared to have stabilised. This demand saw the vacancy rate drop to a low of 1.6% with more than 202 properties leased by our agency for the past 7 months. Rental days-on market fell from 60 days to 42 days. This is a far cry when vacancies were running at more than 8 per cent.
So it does appear that vacancies rates are headed in the right direction, which is a good sign. We are still receiving good levels of enquiry across the board on quality and well-priced properties however, it means investors shouldn’t be complacent. We are encouraging our clients to consider that they still need to be negotiable when looking to secure tenants. This is to ensure they have an occupied property and retain rental income during what is historically the highest vacancy period of the year between Nov and March. Plan ahead and Investors still need to be focused presentation and pricing to ensure a vacant investment property is tenanted as quickly as possible.
Last financial year our experienced property management team worked tireless to match more than 317 tenants to property investors. With our expertise you can be assured your rental property is in experienced hands. Who better to manage your rental portfolio than our knowledgeable property management professionals. We are Broome’s only Quality Assured accredited agent.
If you'd like further information please click here to contact Charmaine Snow, the department Manager.