Rental Market Update - October Review
OCTOBER STATS:
- VACANCY RATE 2.42%
- 520 TENANT ENQUIRIES
- 75 OPEN HOUSE INSPECTIONS – 226 ATTENDEES
- 108 APPLICATIONS RECEIVED
- 15 PROPERTIES LEASED
- AVERAGE DAYS ON MARKET: 28
- $381PW AVERAGE RENT ACHIEVED
- LOWEST RENT ACHIEVED: $330pw
2 BEDROOM TOWNHOUSE IN MERNDA (39 Pasture Crs, Mernda) - HIGHEST RENT ACHIEVED: $460PW
4 BEDROOM HOME IN SOUTH MORANG
(55 Grange Blvd, South Morang)
This month’s landlord tip is regarding Debt Consolidation. Some investors and consumers, when faced with increasing bills and/or falling behind in payments can look at different options to stay afloat, such as redrawing against their home loan, applying for additional credit cards or increasing current limits, taking out personal loans, as well as debt consolidation, which is the process of combining all of your existing debts into one loan. Debt consolidation may help you to better manage your repayments, however, it may also make your situation worse if the consolidated loan interest rate, term and fees end up being greater than your original debts.
When deciding on any financial solution it is important to be informed, do your research and understand what you are agreeing to if you wish to discuss this further or have any questions we have a qualified mortgage broker on hand to help assist you.
Thank you for watching our Monthly Rental Market Update, see you next time!
