June saw lots of movement across our CBD portfolio, with a higher turnover of tenancies due to the end of the university semester. Backfilling the units has been slower than expected, as demand from working visas has been lower compared to previous years. This trend appears consistent across the CBD, with listing numbers remaining high. Suburban market leasing remains extremely tight, with us backfilling the majority of vacancies on a 3-4 day turn around whilst preserving our vacancy rate at 0.1%

Key Statistics:

• 30,682 Views Across Campaigns: Optimised exposure through high-performing channels has ensured maximum visibility for available properties.
• 793 Enquiries Serviced: The consistent level of enquiries demonstrates the effectiveness of strategic marketing and a strong market presence.
• 510 Tenant Inspections: 64% of all enquiries have resulted in property inspections, highlighting the strong follow-up abilities of our team.
• 135 Applications Received: The majority of applications are from international students, entering the country for the new semester.
• 29 Properties Leased: While seasonal vacancy has led to an increased volume of available units, strategic management has helped secure leases for 29 properties.

CBD and inner-city buildings are experiencing higher vacancy rates, driven by elevated volumes of competing listings online. The decrease in working visa arrivals has contributed to this trend, as the demand for rental properties from international workers has softened. We expect units to fill as the new university semester commences, however at longer days on market.