Head of Business Development Katrina Borg reports that the management team has been flat chat in recent months and are still achieving strong results despite the challenging market. Katrina says, “The team’s been busy preparing for our spring season with all of our coastal and beachside listings signing up for tenancies ending mid-January/February or September 2021. Demand is up and we’re still making things happen by being creative in our marketing strategies and staying one step ahead of the competition. A good example of this is the one-bedroom apartment at 66/365 Kent Street, Sydney which we just leased for $620/week after only a fortnight on the market. This is a great result as there are over 350 one-bedroom apartments available for lease in the city at the moment!”

Katrina reports a strong turnout at open for inspections as restrictions have been lifted and tenants are more confident and looking to secure a good deal. A good example is 4/245-247A Bondi Road, Bondi which was leased this week after only one showing. Katrina says, “We had 43 groups through the first open for inspection which is a really positive result and with four applications received on the day we were able to lease the Art Deco apartment after just one open for inspection. The average days on the market for May was 7.73 and for June 8.09 which is excellent in light of recent circumstances.‘’

The management team held 180 open for inspections in May and 150 in June which is just a 16% decrease over the month. We received a 41% decrease in applications, however the hardworking team have already secured 43 tenancies so far this month (and 50 tenancies in May) proving that confidence is returning to the market and tenants are motivated!

One of the best performing sectors is the rental market for family homes. Families preparing to relocate overseas once the borders open up mean that we have some high-end homes ready to launch to the market, with an initial soft launch to our database. 28 Darling Street, Bronte is a four-bedroom beachside masterpiece with a mineral pool and ocean views just 300m to Tamarama Beach. The two storey beach house will have its first public open on July 11th with a rental listing of $2750/week.

Another due to launch soon is 17 Shackel Avenue, Clovelly which is set on an exclusive cul-de-sac just 200m to the beach. Both of these properties are perfect for families who have recently sold their home or are due to settle soon and are looking to rent in the interim. For further information, please contact Katrina on 02 8355 1145 or 0400 455 026.

Take care, stay safe and keep connected.