Expand your Portfolio
With Scott Mackey
We are currently seeing low vacancy rates in many markets across the country, with suggestions made that they will continue to remain low for some time.
Scott Mackey, Principal of RE/MAX Precision, is optimistic about the current market and the benefits it brings to investors. He says “the REIQ just released statistics for the September quarter for Bundaberg, showing an extremely tight figure of 0.4%.”
“Bundaberg’s vacancy rate had previously peaked at 2.4%, demonstrating the spike in demand over recent months, potentially stemming from increased interstate movers seeking our wide open spaces and beachside lifestyle. With this in mind, now may be a very good time to consider expanding your property portfolio”, he says.
Low vacancy rates indicate a surge of interest in a particular suburb, which can often spread to neighbouring suburbs as availability of rentals decreases. As a property owner, the last thing you want is for your property to be sitting dormant for some time without any interest from tenants.
With tenants finding property hard to come by, it can be expected that a property in the right area will lease fairly quickly.
Like any property investment, location is key. Consider what the suburb has to offer for potential tenants. Access to transport, amenities and schools are big advantages and will increase interest from tenants.
End-of-year is a particularly busy time for rental properties, with many people choosing the extended holiday period to relocate in time for the New Year, and especially the new school year or university start. This means many people will be looking for new rental properties within coming weeks, making now a good time to consider your current portfolio.
Scott Mackey & Aaron Thompson – REMAX Precision are here to help, so talk to us about popular areas seeing the most growth. We can also discuss possible rental returns and the potential for overall return on your investment.
Give us a call today!
