Leasing Statistics & Rental Update – July 2023
Across the Adam Charles leasing portfolio, July continued to see high rates of enquiries and strong inspection turnouts.
The low vacancy rates in Sydney are causing prices to increase, and the return of immigration is further driving up demand. There has been a notable increase in inquiries for apartments near universities, as the second semester student intake has been significant. The demand for shared and furnished apartments has also risen, contributing to the overall increase in rental prices.
Overall vacancy rates across our portfolio stand at 1% this month.
July Highlights:
- Enquiries serviced = 1014
- Open inspections = 172
- Total tenants inspected = 570
- Applications received = 220
- Apartments leased = 59