HTW reports vacancies remain around 6%
Herron Todd White’s Townsville Rent Roll Survey Report for April 2016 shows actual vacancy rates returned to February's level of 6.42%, after rising to 6.63% in March.
House vacancies eased slightly to 5.65%, while unit vacancies also dropped very slightly to 7.59%.
With vacancy rates sitting over 6%, we have recruited Melissa McDonald to join Kim Stevens in our leasing team. Through April, Melissa and Kim have averaged 1.75 properties leased per business day, excluding lease renewals.
While this is a great result, the leasing team has reported continued pressure from the market, and tenants.
“What we are seeing is properties that have been well-maintained, competitively priced and advertised using professional photos are quicker off the market,” said Townsville Rentals BDM, Ashlea Wright. “It seems obvious, but first impressions really are giving properties an edge.”
Herron Todd White’s Month in Review report for April 2016, shows Townsville’s market maintaining its position at the bottom of the market. September 2015’s Month in Review had positioned Townsville at the start of recovery, however from October Townsville slipped back to the bottom of the market, where it has remained to date.
“Today’s market is highly competitive, but we are committed to making our properties perform,” Ms Wright said. “Townsville is a city with great potential, and the infrastructure for a long-term future as a key regional centre, and that’s why each of us is invested here.”