Residential Rental Market
The rental market has now steadied. This is typical for this time of year following the busy summer moving season. Our vacancy has been stable at around 2% (with more than that advertised before tenants have vacated). Demand and supply seems fairly balanced with 90 to 100 properties being advertised across the Highlands. This climate makes for steady rents: a typical rent that was negotiated a year ago would be about the same now.
We are seeing a good flow of new properties coming on to the portfolio, but there is always room and scope for more. If you have or know of such an opportunity, please talk to our experienced team on 4861 0666.
Our CIPS commercial teams powers on. They have a number of substantial sales in the pipeline, and leasing activityremains very strong. The team has leased 110 commercial tenancies in the first quarter of the year!
Many vendors are bringing property to the market reckoning that prices aren’t going to get any better soon: indeed many see the risk to the downside. I agree with them. There are still well qualified buyers around, but they are cautious. Valuers and banks are also cautious, and taking their time. The result is that the market is ticking along steadily, albeit a little unpredictably: some properties see vigorous buyer interest, and others almost none. As always, price is key.
... a final word
As a lifelong cricket follower, I am appalled by what has just happened. Another case proving that bad culture eventually delivers bad outcomes. And, this problem goes well beyond cricket: check this out http://www.smh.com.au/national/we-re-all-losers-when-we-embrace-winning-at-all-costs-20180328-p4z6pi.html?btis