With summer only a few days away, we have had some pretty interesting weather and while it’s been both hot and cold, Geelong’s rental market is mainly HOT based on the latest figures from the REIV.
The October data shows that two bedroom units have reached a new high with a median rent of $330 per week which is a $10 increase from the consistency of the previous five months.
Two bedroom houses are relatively steady with a median rent of $325 per week while the same measure for three bedroom houses is up $5 on the previous four months to a median rent of $375 per week.
At GPM, our recent experience agrees with those figures and we are continuing to see low vacancy especially on new and renovated properties.
We’ve also been very busy welcoming many new landlords to our GPM community with the acquisition of local business and a new staff member, Nathan Bourke. Nathan is an experienced property manager, a Geelong local and an all-round nice guy so we’re thrilled to see our team grow with people like him.
That’s about all for this month. Please follow us on Facebook or Instagram for news like this, property updates and more. Our page can be found at https://www.facebook.com/GeelongPM
If you have any questions on the state of the Geelong Rental Market or if you would like to discuss our property management services, please don’t hesitate to give us a call on 03 5277 1125.
