Having a steady stream of tenants on hand to move into your rental property in St George is a real advantage, and the latest figures seem to show this is the case. The Real Estate Institute of New South Wales (REINSW) revealed that in March, the inner Sydney vacancy rate stood at just 1.3 per cent, marking no change from the same time as March 2014.
Data from SQM Research also suggested demand for this type of real estate in St George has remained strong. It found that Sydney's overall vacancy rate stood at 1.6 per cent last month, making it one of the lowest in the country.
One of the reasons why some parts of the country have seen a rise in vacancies is because their property markets are oversupplied. Managing director of SQM Research Louis Christopher indicated that this is the case in the likes of Perth, Darwin and Brisbane, all of which registered vacancy rates over two per cent.
As a result, not only are more properties becoming available, but landlords are being forced to charge their tenants less. Take Darwin as an example. During the week ending 12 April, unit rents were down 10.6 per cent from a year earlier – in Sydney they increased 5.4 per cent.
This shows just how important it is to make the right decision with your investment. While rental property in St George might be generating strong returns at the moment, landlords in other parts of the country might not be enjoying quite such positive results.
If you're seriously considering making an investment in real estate in St George, make sure you give the team at Ray White Carlton a call. We've got many years of experience in finding people investment properties – and there's every chance you could be our next success story.