With Christmas only days away, like on Wednesday, many agencies in town have closed down for a week or two. But not GPM, we’re still at it and although the latest REIV figures are a bit mixed, our recent results are still strong.
There’s good news for renters this Christmas because according the just-released November data, the median rent for 2 bedroom units as dropped back down to its recent average of $320 per week while 2 bedroom houses have also dropped back to the same long-term average of $320 per week.
3 bedroom houses, however, have jumped to a new high with the median rent increasing $25 per week since last month to $400 per week.
While the 3 bedroom house result can be skewed by rare properties in our relatively small market, the overall trend is upward with the same measure last year being $360 per week. At GPM, we are continuing to list quality properties so part of this upward trend can be attributed to an increase in quality in our opinion.
And speaking of listings, we currently have a few which we will continue to show over the Christmas period. We know that our landlords still need their properties leased and their rents paid so we will be available over Christmas except for the public holidays. At times, our office will be by- appointment only but we will be available by phone and email during these times.
Finally, thanks to all our awesome tenants, landlords and tradespeople who have made 2019 a fantastic year for us. On behalf of the whole team, I’d like to wish you fun-filled merry Christmas and a safe and happy new year.