Real Estate Institute of NT (REINT) have issued their latest RELM, reviewing the property market statistics for Jan – Mar 2016 quarter. Report includes information regarding number of House, Unit and Land Sales, average Rental Prices for Houses and Units, Rental Yields and Residential Rental Vacancy Rates.
Below is a “snap shot” of the latest rental figures;
- Median weekly House rent Darwin and Surrounds has decreased by 12.6% since March 2015
- Median weekly House rent in Palmerston has decreased by 11.4%
- Median weekly Unit/Townhouse rent in Darwin and Surrounds has decreased by 13.4%
- Median weekly Unit/Townhouse rent in Palmerston has decreased by 13%
Vacancy Rates for Overall Dwellings;
Darwin and Surrounds 8.7%
Palmerston 7.6%
Rural 7.4%
Our office is currently sitting at 5.5% vacancy rate.
Our success in minimising our landlords vacancy is from our proactive approach. We regularly update our landlords on the current property market conditions (we check all available rentals daily on realestate.com.au and domain.com.au, and what has been recently leased in the area through RPData), we install For Lease signs, we advise our landlords of pending Open House Inspections and By Appointment Inspections, and then provide feedback from potential tenants afterwards. We encourage our landlords to invest in Professional Photography and upgrading their Marketing on the web. Price, Presentation and Marketing are the key factors in leasing a property at the highest possible price, to the best possible tenant, in the quickest possible time.
Click on the below link to see the Local Property Market report in full;.