The property management team reports that May was their biggest month to date securing 31 new tenancies (that’s one a day!) and bringing the portfolio up to well over 1,000 properties. It’s been up and down so far this year with a record-breaking January and February followed by a very quiet March and April but now it seems that the market has picked up again. The top-performing sector is without doubt the beachside market with properties in suburbs like Bondi leased after the first inspection, many prior to settlement, which is excellent news for investors.

Head of Business Development Katrina Borg says, “Tenants on the move seem to be couples and young professionals looking for a place with extra space for a home office and families seeking a sea change who are no longer concerned about the city commute. The top end of the market is also in high demand as there’s been a spike in families looking for 12 or 18 month leases as they undertake renovation works with more time at home and no overseas travel fuelling a spike in home improvements.”

Good examples of how beachside properties are being snapped up quickly are 3/5 Edward Street, Bondi, which was leased above asking price for $900/week, and 4/120 O’Donnell Street, North Bondi which also leased above asking after only one open for inspection. The team also leased two apartments in 232-234 Campbell Parade, Bondi Beach with the three-bedroom flat attracting loads of interest and leasing for $250 more than the asking price for $2,250/week.

Good photography captures the significance of a moment and one of our clients has launched an innovative new digital platform aimed at connecting photographers with their subjects. BossFotos specialises in streamlining the backend for professional, amateur and freelance photographers and performing administrative services. What makes BossFotos so unique is the cutting-edge facial and bib number recognition software that enables clients to view, purchase and download their photographs which is particularly valuable at sporting and music events and for the tourist industry providing global access and an easy revenue stream. For more information, or to sign up as a photographer or search for photos, visit https://www.bossfotos.com/corporate.

This week the sales team secured 19 sales with an average price of $2.7m and listed 18 new properties. Take care, stay safe and keep connected.