A Message From the Rental Department Manager

The rental property market has experienced steady growth in the last financial year, surpassing the performance of the previous year.

Our achievements reflect this upward trend, as we successfully leased a total of 232 properties, attracting the interest of 3,715 tenants who inspected our available properties for lease. Notably, our open for inspections conducted increased by an impressive 36% compared to the previous year, indicating a rising demand for rental properties in our market.

In addition to the increased demand, our average rent per week has risen by 9.64%, reaching $500.00 per week.

Despite the growth, the average days on the market have remained steady at 23 days, indicating a well-balanced rental market and consistent demand for rental properties.

As we conclude the financial year, it is crucial for property owners to stay informed and adapt strategies to maximize the benefits offered by positive market trends. As we have entered a new financial year, take this opportunity to evaluate your property management strategy and secure a competent partner who can navigate the rental market with expertise and professionalism.

Natalie Lamers

Key Dates

The land transfer duty pensioner exemption and concession thresholds will be aligned with the thresholds for first home buyers, at $600,000 and $750,000 respectively.

In addition, eligibility will be assessed on the total value of the purchase.

Contracts entered into from 1 July 2023

A new land transfer duty concession will apply for the transfer of a home valued up to $1.5 million by an immediate family member to an individual eligible to be a beneficiary of a special disability trust.

Expected start date

1 July 2023

The deduction threshold for the land transfer duty special disability trust concession will increase from $500,000 to $1.5 million for principal place of residence transfers.

Expected start date

1 July 2023