As we all know, property prices and rents are set by the laws of supply and demand and recent low stock levels have pushed prices upwards but it’s the shift in demographic that’s significant reports our Head of Property Management Rachael Beadman. Rachael says, “We’ve seen a notable increase in properties coming to market recently, however, despite these increased listings, rents remain at an all-time high which underscores the ongoing demand for rental properties in the eastern suburbs. In tandem with these trends, we’ve noticed a shift in the tenant demographic. While rents remain robust, there’s a noticeable decrease in the quality of renters, posing challenges for property owners seeking reliable tenants. This shift highlights the importance of rigorous tenant screening processes and proactive property management strategies to mitigate potential risks.”

Rachael and the team have also noted that the growing cost of rent means that new arrivals and young professionals, who usually choose to buy within five years, are tending to enter the sales market earlier. Rachael observes, “Listing levels are higher compared to this time last year, presenting both opportunities and considerations for property investors. We’re noticing more tenants transitioning into homeownership for the first time, often making compromises in where they live in order to pay a mortgage rather than inflated rent.”

With tax time upon us, Rachael says it’s an opportune moment for investors to strategise and maximise returns, particularly through tax depreciation benefits. Rachael explains, “Leveraging tax depreciation can significantly enhance your investment’s financial performance by offsetting taxable income. As your dedicated property management team, we’re here to help you navigate these evolving trends and optimise your investment strategies, including maximising tax benefits through depreciation.”

If you’re looking for a quality family sized home in a great location, check out the architect-designed beach house at 58 Boundary Street, Bronte. The four-bedroom home comes with a landscaped garden and sparkling pool comes with a rental of $2650/week and is just 600m to Clovelly Beach in one direction and 450m to Macpherson Street village in the other with great schools all around.

The property management team deal with over 1,250 enquiries a month and have leased 250 properties so far this year with an average rent of $1,091 per month so if you’re looking for astute advice and proper care of your investment, get in touch with Rachael on 0424 276 472.

This week the sales team secured 9 sales with an average price of $1.8m and listed 8 new properties and the management team secure 12 tenancies and listed 10 new properties for lease. Check out the full details of our listings below and please don’t hesitate to reach out if you’d like any further information.