Let’s Rent Monthly Property Management Update – December 2020

Author: letsrent_editor, December 15, 2020

As this year draws to an end we would like to thank everyone all for their support and patience in difficult times and new paradigms. We are very grateful for the understanding and warmth you have offered us and for this we offer our heartfelt thanks.

The shift in market conditions has been dramatic and a challenge for us both. Our team has worked tirelessly to ensure that your properties are leased as quickly as possible by shifting to more tenant interactions and more inspections.

Our vacancy rate for December has come in at 1.9%, down from 2.9% last month and a high of 5.4% in May. The REI Vacancy rate for November was 4.6% down from 5.8% in October which was the highest for the year and matched the rate in June. The rate for middle Sydney was 4.4% in November with outer Sydney falling to 1.8% from a high this year of 4.3% in July.

For 2021 we hope for better conditions in all spheres of life. We wish you all the best for the year ahead and we look forward to working with you once again. Happy New Year.

Let’s Rent
July 3.0%
August 2.8%
September 3.6%
October 2.3%
November 2.9%
December 1.9%
Six month average: 2.7%

REI Vacancy Rate Inner Sydney
June 5.8%
July 5.3%
August 4.7%
September 5.5%
October 5.8%
November 4.6%
Six month average: 5.3%