Local investors have seen one of the strongest years on record in recent history. An increase in the number of enquiries and tenant applications has enabled a decrease in the number of days on market and solid returns.
Docklands investors continue to enjoy rental yields well in excess of the Melbourne metro average of 2.8%, largely underscored by the increasing popularity of apartment living and convenience of a city-fringe location. The popularity of Docklands living is underscored in our exceptional vacancy rate of 0.48%, compared to the current Melbourne average of 2.6%.
On average 40% of Docklands investment properties will have an annual change in tenancy, with over 2000 properties advertised for rent each year. As we move into our peak-leasing season, ensure your rental property is maximising its potential return. Consider an upgrade in flooring or re-paint if required. Little updates can result in extra dollars in your pocket!
Potential investors should note a key trend is the growth in popularity and corresponding increase in rental yield of one bedroom apartments. Returning on average a massive 5.7%, a broad cross section of potential tenants are preferring this apartment option: singles, professionals and couples of all ages.
For more information or to find out the current rental value of your home or investment property, contact Dylan Emmett on 0402 465 779 or email