06 Dec
Sorted Services, who have confirmed many of the rental market trends reported by the media. Their data is showing a rental increase of approx 13% from 2021 to 2022, and an increase in lease renewals of 30% and a decrease in new leases of 20%.
This information is incredibly important for property managers to drive positive portfolio discussions with their landlords and rental providers.
Average rent increase between FY21 and FY22
- $513 – 2021
- $577 – 2022
- ~13% increase
Lease types
We have seen an increase in renewals between 21 and 22.
- New Leases ~36k vs ~30k (20% decrease)
- Renewal Leases ~7k vs 10k (30% increase)
Application volumes seem to be steady ~5000 a month average but we didn’t see the peak in January 2022 like we did in 2021 (~9k vs ~15k)
For more information, visit www.sortedservices.com.au
