Latest Market Update shows vacancy rates influenced by property preferences

11 September 2018

Townsville Rentals released our latest Residential Vacancy Update in August, identifying key trends in the local residential rental market.
The Report was commissioned through an external agency DS Economics and found that the city-wide Vacancy Rate has fallen to 3.6% as the rental market shows signs of strengthening. The findings also pointed to stronger renter demand for houses over apartments at the present time. This being said apartments that are well located, presented and priced right are still renting well. 

An analysis of Vacancy Rates by postcode found areas with predominately housing stock, such as Kirwan and the Northern Beaches suburbs, had significantly lower vacancy rates than the area around North Ward and the CBD where there is a higher concentration of apartments.
Above all, the Report, coupled with our Townsville Rentals Property Managers’ experience over the past few months, again has demonstrated that good quality properties offered at a reasonable price continue to perform well in the current market.
The Residential Vacancy Updates are an important way that the Townsville Rentals team stays on top of rental market trends to ensure the best possible management of your property. You can read the August Update here - Residential Vacancy Update - August 2018.

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