REAL ESTATE MARKET UPDATE - MARCH 2021
Coming to you from Greenbank backing onto the Spring Mountain forest park.
Good news, our Brisbane lockdown has lifted!
Covid-19 Real Estate Moratorium now lifted, but still some regulations remain.
Rent Arrears have increased.
Lots of tenants either staying on, or moving due to buying own home.
Average days to find a tenant is 14 days, 251 applications n just 8 rental properties in March. Tenant's are applying for anything and everything due to low supply.
Taking a huge amount of resources to process and secure tenant's so we are introducing some automation to help manage our email and inbound communication.
All of our stock has sold, we do have 1 investment property still for sale but stock levels are slow. 80% of the market is home buyers, 20% investors. Finding the rental stock is low as is sales stock.
Spring Mountain sold in 11 days , 5 offers, $40,000 over asking price.