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Property Management Review

I have experienced the strength of the Melbourne rental market first hand. With the advent of our property management department we have rented out a number of properties within 10 kilometers of the CBD over the past 6 months. I have been amazed at the amount of high quality tenant applications submitted. It is very reassuring to investors knowing that their properties will not remain vacant for an extended period of time. Blue chip inner urban properties will always perform well from a capital growth perspective this in turn leads to regular rental increases. Rents across Melbourne, especially inner Melbourne, have skyrocketed over the last 18 months.

Real estate like any other commodity is at the mercy of the economic laws of demand and supply. The greater majority of the population wants to reside close to important amenities i.e. shopping precincts, health care facilities, schools, transport links etc. Limited available supply of housing in these areas has lead to the substantial price increases we have witnessed of recent times.

 

 

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