WHAT ARE VACANCY RATES?
Vacancy rates are a percentage of vacant properties within a particular region. A healthy vacancy rate is sitting between 2% and 5%.
According to REIQ, the Gladstone region in September 2019 was sitting at a vacancy rate of 1.8%.
LOCATIONS estate agents is proudly sitting at 0.8%, which is fantastic.
WHAT DOES THIS MEAN FOR YOUR RENTAL PROPERTY?
It means there is less competition on the market and less for tenants to choose from. Owners can be more selective when choosing a tenant and increase the rent where applicable.
NEED A SECOND OPINION?
If your property is sitting vacant and you would like a second opinion chat, please call our agency on 4972 2484.