Residential property market starts recovery phase – bring it on!
Herron Todd White’s (HTW) monthly rent roll survey shows rental vacancy rates in Townsville’s market have remained elevated in 2015, reaching 5.4% in April 2015.
Townsville Rentals manager Leah Riddle says Townsville property owners have faced the ongoing challenge of a flat, stubborn market.
“HTW’s Townsville in Focus May 2015 edition refers to our residential property market as remaining ‘stationary at the start of recovery phase’. I consider this very encouraging commentary.
“Our landlords have stayed strong and persevered through this tough market with us, so we are looking forward to when we can deliver the news – and results – of a strong-performing market. We’re obviously not there yet, but we are encouraged by HTW’s comments.”
Townsville in Focus also refers to Townsville’s residential market outlook as ‘optimistic’ but in the same sentence describes the recovery pace as ‘slow’.
“We agree,” says Leah, “and we know you will too – because we’re experiencing it firsthand as owners and property managers.
“Townsville’s returning business confidence and projects like the $136.6 million Waterfront development are suggesting a pretty positive future for Townsville investors, and we are eager to see the flow-on benefits to the rental market.”