The rental market in Melbourne’s north-east continues to experience high demand and low vacancy rates making it a competitive space for renters seeking quality homes. Our property management team has maintained vacancy rates at around 1% and arrears rates well under 1%, highlighting the strong demand for rentals in the area.
Renters are facing stiff competition, with well-maintained properties leasing on average in 19 days with 8089 enquires submitted and 2368 people attending open for inspections in Q3. This provides Residential Rental Providers (RRPs) with an excellent choice of high-quality tenants, allowing them to make informed decisions about who will occupy their investment properties.
A Shift in Property Investment Strategy
Whilst some owners had considered selling their investment properties, they are now re-evaluating their options. With rental yields continuing to grow and expectations of a stronger property market in 2025, many are choosing to hold their investments for at least another 12 months and see how the market progresses with limited stock. Population growth also supports rental prices, making it sensible to wait and see, before making a final decision on selling.
A Premium Property Management Service
What sets Miles apart from other agencies is our commitment to delivering superior service. Our Property Management Team works closely with RRPs and Renters to ensure smooth, stress-free leasing processes. From marketing the properties to securing reliable renters, we pride ourselves on attention to detail, clear communication, and prompt resolution of any issues that arise.
If you’re a property owner or renter in Melbourne’s north-east, the team at Miles is here to assist with all your property management needs, ensuring you achieve the best outcomes in this competitive market.
Recently leased
18 Cook Street, Ivanhoe for $1185 pw and 2/2 Ford Street, Ivanhoe for $1100 per week demonstrating the strong demand for family homes.
Should you require and new rental appraisal for your investment property, please get in touch.
