A Moment On The Property Market: November 2020
Many markets have seen an increase in supply and therefore prices have started to come down. The RBA put together an excellent summary of the rental market through to September 2020 which can be found here.
The key takeaways are that there has been a shock to the rental market this year with demand down, supply up, and vacancy rates on the rise.
The final quarter of the calendar year has seen some improvement with news of a vaccine and low case numbers around the country, so there will likely be a change to their projections and the overall sentiment in the market as we head into the end of year break.
Despite the improvement expected in the coming months, our general guidance is that it is a good time to retain your tenant and look for ways to manage expenses.
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