INDUSTRY REPORT: LEASING ACTIVITY JULY 2020

By July 30, 2020Landlords

For the month of July, we continue to see a decrease in vacancy rates and extended tenancies. Also, LOCATIONS estate agents & REIQ celebrated the inaugural National Property Managers day to acknowledge our unsung heroes: Property Managers!

Snapshot of leasing activity for July:

  • The Gladstone Region has seen the lowest vacancy rate of under 1%.
  • LOCATIONS estate agency vacancy rate is currently sitting at 0.35%. This is the lowest recorded vacancy rate in 5 years.
  • Tenants are more likely to re-sign a lease then move due to the uncertainty surrounding COVID-19.
  • Price, Presentation & Profile are more important than ever in this market. Properties with the 3 P’s are renting within 24 hours of going online!

Our Property Management team have been working tirelessly behind the scene to adapt to the ever-changing legislation whilst supporting owners, tenants, and contractors throughout this time. Whilst we face some uncertain challenges ahead given the COVID-19 pandemic, we can assure all of our valued clients that our processes and procedures have evolved, and will continue to evolve, as demands of the industry change. Also, we will continue to communicate and make public announcements with any concerns that may affect our real estate industry, or directives by state or national government.

If you have a rental property that needs a tenant, contact the team at LOCATIONS estate agents today on (07) 4972 2484.

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