NOVEMBER RENTAL REPORT

By November 29, 2019Renting Tips

Trends

The month of November has seen an increase of doctors and teachers moving to the Gladstone region for work.  This is not uncommon for this time of year.  The holidays present an opportunity for busy families and professionals to find an appropriate rental property before relocating in the New Year.  New people to town will generally rent a property for 6 to 12 months prior to purchasing so they can get a feel for the area and make sure the move is right for them.

Pricing

Currently the average rent for a 4 bedroom, 2 bathroom house is $300.00 per week.  The average rent for a 2 bedroom, 1 bathroom townhouse/unit is $140.00 per week.  This price may vary depending on the style and size of the home.  If the property has a pool or a shed, this will also attract a premium, especially in summer.  The most popular suburbs are Calliope, Boyne Island and New Auckland due to their price point and location.

Inspections

LOCATIONS estate agents have conducted 173 inspections for the month of November.  This has led to 30 leases being approved.  The most popular property of the month was 3 Tigalee Court, KIN KORA.  This property had a lot of interest with 40 enquiries and 26 inspections completed.  Better still, it was leased before it was vacant.  This is important because it means the landlord didn’t lose any time or money by the property sitting vacant for an extended period of time.

Vacancy Rate

The vacancy rate has increased this month to 2.8% as we are seeing an increase of tenant’s wanting to make a move before Christmas which is allowing more stock on the market for the month of November.  As the Christmas season approaches we are seeing an increase of applications.  We ensure they are processed and presented to owner’s for their consideration within a 2 days of receiving a completed application.  Our current days on market are sitting at 28 days.  This is the total number of days a property is available for lease from advertised date to date of new lease.

Tenant Tip

Please ensure that your application is completed correctly and the appropriate information is supplied at the beginning with as much details as possible.  We are moving towards improved technology specifically designed around application processing.  Applications with incorrect or missing information will not be processed until the application is completed properly.

We would welcome the opportunity to help you find your perfect living space! Get in touch with our team at LOCATIONS estate agents and we will endeavour to assist you in finding your new home.