- Posted By Jasmine Adams
What a year 2020 turned out to be... we certainly couldn’t have predicted that with our crystal ball!
How fortunate Western Australia has been and that our livelihood wasn’t as impacted as many around the world. Broome has certainly been one of the more fortunate and while we have appreciated the increased visitors to town we are sure a lot of other local businesses feel the same - finding staff has certainly presented a challenge. Responses to positions being advertised has been very slow so if you do know of someone looking for employment please ask them to get in touch.
We want to thank our whole team for a fantastic 2020 particularly through such “unprecedented” times. Their continual commitment, hard work and dedication has shown fantastic results in Sales and Property Management for all our clients.
As Broome’s leading Agent our consistent leasing results ensure maximised value for our investors.
According to realestate.com.au our team leased 53% of the total rental market for Broome!!
The demand for rentals has remained strong right throughout the year with the vacancy rate ranging between 3% and 0.05% (currently at 1%). There is no question that rental prices have started increasing as stock levels continue to reduce. The days on market is now down to 11 days which is the quickest it has been for several years. Some properties are being leased within days of a listing being advertised and going live. All evidence suggests the new year will continue on the same trajectory as demand increases and stock levels remain minimal. If you have a property you’ve purchased as an investment or becoming vacant we would love to hear from you.
Our Sales team have also been extremely busy and producing great results for their clients. We have had an increase in activity from the investor market as well as locals who are feeling more confident that now is a great time to buy in Broome.
Just in the last two months alone our Sales Team have sold 17 properties (5 subject to finance).
If you are considering a move or would like an up to date opinion on the value of your home please get in touch with our team here.