PM NOV 2022

Rental Market Update

November monthly review.

Our purpose

To create a place where we can facilitate our people’s growth.

Our values

Family. Our colleagues are our broader family, assist when needed and when in need.

Mutuality. Respect our colleagues and our clients as you would like to be respected.

Realising potential. Unlock your full potential, encourage and support your colleagues.

Embrace change. Strive for excellence; be open minded and willing to embrace change.

Health and energy. Work towards being well balanced within yourself.

From our corporate director

Dean O’Brien.

Dear Reader,

Its time to plan and get strategically ready for 2023

There is no official definition of mortgage stress, but fundamentally it is when a household struggles to afford their home loan repayments. What we are experiencing is high level of owners wanting to find out where their properties are currently valued in the market.

Although we are restricted by existing leases many owners are reaching out to see what an achievable sale price and rental income is when their leases coming to a end. We have never seen this before and with the current media making significant noise of future interest rate increase and higher cost of living this is a good practice to put into place. Feel free to reach out to your property manager to organise this. It will at least give you peace of mind about where you sit now and allow us to assist you with any future real estate needs.

Some ideas to plan to future proof your investments as well is; If you’ve had your home loan for some time, it’s worth thinking about whether your home loan matches your lifestyle and needs. If you’ve been thinking about refinancing your home loan, now could be a good time to dig into it

.Switching home loans could save you money each month in repayments or potentially free up existing equity (cash) in your home. You could use this equity to add value to your home through renovations, or even towards an investment property. Refinancing your home loan could also help you pay off your loan faster or consolidate debt if you need to. On a positive note, the demand in the rental market is at a record high. Although we are experiencing the seasonal lower demand due to Christmas, Vacancy rates are still at a record all-time low, and we feel that we will see an acerated demand in 2023.

As Christmas spending is upon us and manty families are already under the pressure of higher cost of living expenses, we urge everyone to take time to review their rental portfolios. Traditionally known as a passive income source, we urge you all to take an active view this year so everyone can enjoy the festive season and move into 2023 with a strategic approach to your investments.

If you or any of your friends or colleagues would like to reach out to one of our professional real estate agents please make contact. We are here to help with all your real estate needs.

Regards,

Dean O’Brien Director

We lease more

A snapshot of last months leases.

Suburb Price per week Address

15/241SoldiersRoad 21HudsonStreet 46AllungaParade 27ChaseBoulevard 74PositanoCircuit 12EdgbastonCircuit 3KurnwillPlace 21KurandaCrescent 76HomesteadRoad 3PetrelPlace 3BayleafPlace 17FooteWay 33NunkeriCourt 23SloaneDrive 5FaveroStreet 6FleuveRise 4/106ClairmontAvenue 57FloydCircuit 24FerniskyDrive 9RannochStreet 106SabelDrive 11OtteliaStreet 46BroomeCrescent 12LanossoAvenue 17ScottRoad 40AldridgeStreet 26ManuscriptDrive 10ArnicaClose 40LindheLane 112HutchinsonDrive 17ParslowCrescent 25DunkinsonStreet 28WesleyDrive 4Clarrisacourt 125MontbraeCircuit 18CulcairnCourt 1FernStreet 7AddisonClose 14FairchildPlace 2HarewoodStreet

Beaconsfield Beaconsfiled Berwick Berwick Berwick Berwick Berwick Berwick Berwick Berwick Berwick Clyde ClydeNorth ClydeNorth ClydeNorth ClydeNorth Cranbourne Cranbourne CranbourneEast CranbourneEast CranbourneNorth CranbourneNorth CranbourneNorth CranbourneSouth CranbourneSouth EndeavourHills EndeavourHills HamptonPark LangLang Lynbrook Lynbrook NarreWarren NarreWarren NarreWarren NarreWarren NarreWarrenSouth Officer Officer Pakenham Tooradin

4 3 2 4 2 2 3 2 2 3 2 2 3 2 1 4 2 3 4 2 2 4 2 2 4 2 2 4 2 2 4 2 2 3 2 2 3 2 2 3 2 1 3 2 2 3 2 2 4 2 2 4 2 2 3 2 2 3 2 2 4 2 2 4 2 2 3 1 1 3 2 2 3 1 4 4 1 2 3 2 2 3 2 2 3 2 2 3 2 2 5 2 2 3 2 0 3 2 2 3 2 2 3 2 2 3 2 1 4 2 2 4 2 2 3 2 1 3 2 1

$500 $480 $480 $540 $445 $580 $510 $570 $530 $600 $570 $440 $440 $480 $465 $450 $480 $500 $430 $475 $550 $570 $450 $540 $650 $465 $450 $430 $850 $530 $540 $490 $450 $500 $580 $425 $520 $500 $450 $520

5 reasons why OBrien

Reason #1

Access to more renters.

Inter-office promotion and selling increasing your property’s exposure. Latest prospective renter database.

Reason #2 Experience, integrity and knowledge.

Local area specialists, highly skilled and trained property managers across all offices.

Reason #3

Faster leasing time.

Our low days on market can translate into marketing savings. Less time on market ensures you receive the best possible price.

Reason #4

Constant improvement.

All property managers receive specialist industry training and have regular meetings.

Reason #5

Specialised marketing.

Professional photography and lease boards, utilising Australia’s premier real estate websites.

Berwick 9707 0556 56-58 High Street berwick@obre.com.au

Our property management team

Cranbourne 5995 0500

Cranbourne Park Shopping Centre FS005/125 S Gippsland Hwy cranbourne@obre.com.au

Narre Warren 8794 0500

32 Overland Drive narrewarren@obre.com.au