Adam Charles February Market Update:

February has proven to be the busiest month of the year for our leasing team, driven by the influx of new university students moving in to begin their first semester between mid to late February. The enquiry to inspection to application conversion numbers reached record highs, particularly for furnished and student accommodation.

Now that February has closed and all students are settled in, our rental portfolio boasts an incredibly low vacancy rate, with only 1 vacant unit out of 650. The turnover time for vacant properties also significantly decreased, with the average time between tenancies dropping to just 3 days.

Looking ahead, we expect our vacancy rate to remain below 0.1%, with demand continuing to be high but beginning to stabilise across the CBD as the semester progresses.

February Highlights:

• 839 Enquiries Servied: High student demand driven by strategic marketing and strong market presence.
• 96 Inspections Conducted: Ensuring prospective tenants have seamless access to viewings.
• 504 Tenants Inspected in Person: In addition to online and virtual inspections, ensuring all prospective tenants can view the properties from anywhere, anytime.
• 245 Applications Received: 46% of inspections resulted in applications.
• 62 Properties Leased: Strong leasing numbers ensuring minimal vacancy rates
• 0.1% vacancy rate: A vacancy rate of 0.1% highlights the strong demand and our ability to efficiently move tenants in and out