Property Market Update June 2018
A fantastic result for the Parry Property team was the leasing of this home at 166 Westbury Road, Prospect This 2-bedroom, 1-bathroom property is fully renovated with pets considered leased for $260 per week. We received 16 rental enquiries and we received 5 applications on the property.
We are now in the winter period where we are typically seeing the days on market and the average days vacant slightly higher.
- The industry average days on market is sitting at 23.1 and the average days vacant at 16.7.
- The average weekly rent for a house is sitting at $290 per week which is a 3.6% annual increase.
- Currently there are 598 of properties (houses & units) available for rent in the Launceston and Greater Launceston region.
On a positive note we do only have 2 months until it’s spring time. So now is the time to get your Tax preparation sorted and lodge and then plan to be proactive in completing some simple property maintenance tasks which will be critical to preserve the value of your investment. Keep an eye out in coming episodes for our spring tips.