And that’s a wrap on 2021, we made it!
We’ve finally made it through to the end of 2021 and what a year it has been! Between various lockdowns and restrictions across the country, it’s fair to say this year has had its challenges but we hope that wherever you are, that you were able to celebrate with your loved ones.
The end of the year is often a time when many people reflect on their resolutions and goals as well as celebrate their achievements. We’re really proud of everything we’ve been able to accomplish together and to continue to be able to help landlords across Australia.
2021 – The Highlights
Looking back on the year, we wanted to share some of our highlights and wins. In a year that challenged us in ways we could have never seen, we take a moment to recognise some of our achievements.
There was a lot to celebrate in 2021 and as the team grew we were able to deliver some great new features. We were particularly proud to release the Bond tool as well as enhancements to our Condition Report feature more recently.
Moving Bond and Condition Reports into the digital age have been a great win for landlords and tenants alike, not only reducing the paper footprint but making things more seamless and easier than ever before to manage your property with the click of a few buttons.
We were also really excited to be able to release our first-ever Referral Program for Mortgage Brokers and we hope to release our version of the program for landlords later in 2022.
The Outlook on 2022
According to data from Realestate.com.au, 2021 has seen plenty of growth despite the pandemic hitting hardest during the year and 2022 looks to continue that trend. Low borrowing costs combined with the fact that people were no longer spending money on holidays meant that Australia saw historic growth in the property market.
The pandemic has certainly changed the way people live and work. The top 10 locations around Australia which have seen the biggest price increases have largely been located in New South Wales with 9 out of the top 10 locations on the list. In particular, beachside towns such as those up in the mid-north coast of NSW have seen a surge as people moved away from the city.
As the trend grows towards having more work-life balance, we have seen a huge shift in the workplace with the ‘WFH’ lifestyle. Lots of people have made a permanent move and flocked further away to enjoy a quieter and more relaxed life.
Renters want more ‘bang for their buck’ and typically, properties outside the cities are bigger and offer those perks such as backyards and pet-friendly spaces. With Covid putting a halt on everyone’s travel plans, lots of Aussies longed for more space and seized the opportunity to make that lifestyle change. This is driving further demand in towns outside main hubs which is great news for property owners as rental prices increase on the back of sales and demand.
Popular regional NSW Town, Byron Bay has seen prices increase to those equivalent and more than Sydney.
According to REA, some regional towns have seen prices equivalent to those of their city counterparts which is something that we have not seen before. You can check out the Australian suburbs who have seen the fastest growth in rent here.
Whilst we don’t expect things to completely go back to the way they once were before, the country is slowly beginning to return to some normalcy and ass the borders open up and international students and workers return, we should start to see the demand in the cities heat back up which means that we will see those higher rental prices in the cities return in 2022.
A Message from RentBetter
That’s a wrap! With 2022 right on the horizon, from all the team at RentBetter we wish you and your families a very happy holiday period, we hope you all stay safe.
We sincerely appreciate the trust and confidence you have in us to help you manage your property. Thank you so much for all your support, we hope to continue to help you through 2022 and beyond!
Click below to view a message from RentBetter CEO, Jeremy Goldschmidt: