With more and more people moving to our leafy city after realising how great it really is, the property market has been tight. And according to the Domain Rental Report for the December quarter, Canberra is now the most expensive capital city to rent, surpassing Sydney for the first time in 11 years. Back in December 2013, the average rent for a house in the Canberra region was $430 per week. Fast forward to December 2018, the median weekly house rent was $560.
This time of the year there is traditionally an increase in demand for rental properties as a new wave of students and professionals move to the capital. Independent Property Management has already begun to see a large number of enquiries from potential tenants who are on the hunt for new rental accommodation.
Currently, our vacancy rate is at 0.41%. But what does this mean exactly? A vacancy rate is the percentage of rental properties out there that are vacant or empty.
So with all this competition in the air, you want to stand above everyone else and give yourself the best opportunity to secure a new home. We spoke to Property Manager Renee Bink, to find out how you can improve your chances of securing a new place. Continue reading