Adam Charles January Market Update:
The furnished rental market in Sydney’s CBD is highly seasonal, with January standing out as one of the busiest months of the year, driven by the approach of the new university semester in mid to late February. This period marks a significant shift in both inquiry levels and tenant demand, particularly for furnished and student accommodation.
After the holiday season, as many students left the city, vacancy rates across the CBD were temporarily heightened, with lower demand observed over the festive period. However, with students returning and the semester approaching, demand has surged, and vacancy rates within our portfolio have tightened.
Looking ahead, we expect demand to remain strong through early February, though as the CBD market becomes more saturated and student accommodation fills up for the semester, we anticipate some overflow into nearby suburbs. The increased demand for both student housing and general furnished accommodation will continue to shape the rental landscape in the coming weeks.
January Highlights:
- 1,184 Enquiries Servied: High student demand driven by strategic marketing and strong market presence.
- 214 Inspections Conducted: Ensuring prospective tenants have seamless access to viewings.
- 738 Tenants Inspected in Person: In addition to online and virtual inspections, ensuring all prospective tenants can view the properties from anywhere, anytime.
- 293 Applications Received: 40% of inspections resulted in applications.
- 61 Properties Leased: Strong leasing numbers ensuring minimal vacancy rates
- 25,477: listing views: Demonstrating strong market presence and the effectiveness of our targeted marketing strategies.