July 2019 | Market Update
ALT & Sienna On-Site Management has reported an increase in weekly rental increases due to high demand. According to Realestate.com.au the average market rate for a 2-bedroom apartment is currently $410 PW.
In comparison with our portfolio our current range in ALT and Sienna Apartments are from $380 to $460 PW.
Our ability to operate on-site plays an integral role for achieving higher rental yields for our Landlords by attracting tenants wanting a professional on-site manager and leasing agent.
MEDIAN PROPERTY PRICE
According to the ‘Australian Property Market Report, 2019‘ by realestate.com.au, the median property price for units over the past 12 months is resting comfortably at an average of $350K and $347K respectively for the month of June.
According to Realestate.com.au’s latest Market Report in July 2019, our top 3 lifestyles and people of Travancore are Independent Youth, Maturing & Established Independence and Older Couples & Families. Due to the geographic location of the Travancore complex our location is fundamental for the younger youth to have accessibility to the local universities.
In comparison with our data, our tenancies in ALT and Sienna are majority of students attending university or older couples and families whom work inner city.
TRAVANCORE SUPPLY & DEMAND
According to Realestate.com.au’s ‘Supply and Demand data from 01 Jul 2018 – 30 Jun 2019′. In comparison with the Victorian average of 816 visits per property Travancore is currently 15.39% below market average at 523 visits per day.
This market statistics and data has been sourced and supplied by Realestate.com.au. The information should not be regarded as advice or relied upon by you or any other person and we recommend that you seek professional advice before making any property decisions. Realestate.com.au does not “warrant the accuracy or completeness of the Property Data and any person using or relying upon such information does so on the basis that the State of Victoria accepts no responsibility or liability whatsoever for any errors, faults, defects or omissions in the information supplied.” – realesate.com.au