Hodges Real Estate

Demand For Rentals Increases

April 20, 2015 Corporate News

Sandringham Director Katie Pickering was recently featured on Domain in the article, ‘Melbourne suburbs where rents are soaring’. Ms. Pickering spoke about the increasing demand for rental properties around the Melbourne area.

She said many landlords might have sold their investment properties while the market was in favour of sellers, which would have created further activity on rental properties. On top of that, more families are willing to rent – they are either looking to upgrade into highly desirable areas that they might be able to buy.

Because more young families are looking for rental properties, properties in good school zones, with easy access to transportation and culturally active main streets are being highly sought after.  Katie Pickering also spoke about how the properties in the bayside area are “leasing quite quickly”.

Competition between rentals is very high and the Melbourne market is responding with new developments and a bigger interest from investors. Prices are increasing as demand increases, but this competition will lead to creating the best properties for the growing rental market.

Read the full article here