Leasing Statistics & Rental Update – November 2023
Following the departure of international students, November saw a slight increase in the number of units returning to the market. As predicted, these are being absorbed at a high rate, with an average turnaround of 5 days between tenancies.
Despite a relatively high vacancy rate across the Sydney CBD (3.6%), asking rents continue to rise, with a 0.7% increase between this month and last month.
Despite the modest increase in vacancy throughout this month, our portfolio leasing volumes increased accordingly. Overall vacancy rates across our portfolio remain below the Sydney average, standing at 0.7% this month.
November Highlights:
- Enquiries serviced = 494
- Open inspections = 109
- Total tenants inspected = 307
- Applications received = 92
- Apartments leased = 24