During COVID-19, the Sydney and Melbourne rental markets have been leading the downturn. Hundreds of units, short-term holiday rentals and properties have been withdrawn from sale and placed on the rental market causing an oversupply, according to analysis of the nation’s residential property market by valuer Herron Todd White.
Here at First National Real Estate Coffs Coast, our agency is experiencing the reverse situation which is positive. Our vacancy rate is less than 1% and our arrears are running at an all-time low, despite COVID-19. We are desperately seeking new stock to keep up with current demand. We have qualified tenants waiting on our prospective tenant database for new properties to come onto the market.
If you have a vacant property you are looking to rent we would love to speak with you.