To stay in front of the chaos, real estate investors need to know where the rental market really stands. Here’s what you need to know — from macro data like unemployment and vacancy rates to how various property types are faring.
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With an influx of rental properties coming onto the market amid COVID-19, there’s never been a better time to nab a new home at a top deal.
Property managers and landlords are fighting to keep tenants in homes rather than see them vacant, and in addition to short-term rentals becoming long-term rentals, prices have not only decreased but are negotiable in many cases.
“All of a sudden, we have thousands of Airbnb properties that owners now want to try to lease out because they’re not getting tourists in, so that’s increasing the rental availability out there and tenants are seeing that and know they can get properties for $50-$100 cheaper,” said Georgia Soldatos, team leader and accountability manager at Belle Property in Melbourne.
Not only are rentals being advertised with ‘sweeteners’ such as temporary free rent, but prices, in general, are being adjusted to account for the current virus-hit market.
Across the country at this time of year, rentals are often advertised for much less than the typical median rent in a suburb, it’s just a matter of doing some research about the area and its rental pricing to see if you can sign up to a lease at a top deal.
If affordable is classed as under the suburb’s median weekly rent, then these two-bedroom abodes are well priced.
1. A period-style classic in Richmond
This semi-detached terrace at 6 Berry Street in Richmond is priced at $580 per week.
Richmond’s median weekly rent for a two-bedder is $600 per week, which means you could pat yourself on the back for saving $20 each week.
This rental in Richmond is $20 less than the suburb’s median rental price. Picture: realestate.com.au/rent
2. A chic and simple Bondi Beach pad
Fancy a free-standing home in the heart of Bondi? This cute two-bedroom home at 31 O’Brien Street, Bondi Beach is currently seeking a tenant for $660 per week.
Considering the median weekly rent in Bondi is $898, there’s a decent saving here.
The rental is walking distance to the beach and all the shops and cafes Hall Street has to offer.
Live walking distance to the coastline, shops and cafes. Picture: realestate.com.au/rent
3. A light and airy Brisbane abode
Located in the heart of New Farm, this newly renovated unit at 1/53 Annie Street comes with two car spots and a spacious balcony.
Priced at $460 per week, it’s worth applying for as the median weekly rent in the neighbourhood is $490.
With a housemate, that’s just $230 each per week.
Priced at $460 per week, this two-bedder is a good deal. Picture: realestate.com.au/rent
4. Stunning vistas in Sandy Bay
Rentals dominate Hobart and, due to COVID-19, many short-term holiday listings have been placed on the residential market seeking longer-term tenancies to weather the storm.
The median weekly rent for a two-bedroom home in Sandy Bay is $500, which makes this red-brick house at 2/12 Dalkeith Court a bargain at $360 per week – not only this, but the first week’s rent is being offered for free.
Its new tenants will enjoy sweeping views over the bay and surrounding hills – it’s also within close proximity to the University of Tasmania.
2/12 Dalkeith Court is seeking two tenants for $360 per week. Picture: realestate.com.au/rent
The post 4 affordable two-bedroom rentals appeared first on realestate.com.au.
No. 122 Ocean View Drive in Wamberal is on the market.
Two houses on the same street on the Central Coast were among the most viewed properties in NSW this week, according to realestate.com.au.
The Wamberal homes, both of which were on the market, attracted attention as news of landslides on the street broke earlier in the week. One of the homes, 51 Ocean View Drive, has been removed from sale as landslide damage is assessed.
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But another, across the road at 122 Ocean View Drive, was unaffected and remains on the market.
The property is on the other side of the street and has water views.
The six-bedroom luxury home.
The beautiful six-bedroom home is only a few years old, built by the owner after he bought the land with an old cottage on the site and knocked it down.
Agent Jordan Bulmer of McGrath Terrigal said the home carried a price guide around the mid-$3m mark.
“There’s nothing like this home in Wamberal,” Mr Bulmer said.
Plenty of windows take advantage of the views on offer.
Entertain by the pool.
“There’s nothing of that size here and together with the fantastic ocean views, private beach access and the fact it is not at risk from erosion, makes it a unique property.”
Floor-to-ceiling windows in most rooms allow you to take maximum advantage of the beach views and the open plan living space plus the pool area with entertaining deck have attracted a lot of interest from within the Central Coast and Sydney.
There has been plenty of interest from locals and Sydney buyers.
One of the most unique features is a “gentleman’s bar” on the lower level next to the garage and secluded from the rest of the house.
The black walls and roof give it a moody feel and the owner’s Lions Milk logo, from a line of arak spirit he owns, can be seen above the bar.
– With additional reporting from Mercedes Maguire
The post Properties on Central Coast street where storms damaged homes the most viewed NSW listings appeared first on realestate.com.au.