There is no doubt that many renters in the current market are finding it difficult to find and secure rental properties. What’s more, they are having to deal with increasing rents when they do find a property.

In recent weeks a number of property analysts have published figures that confirm this trend. As recently as this weekend’s Saturday Herald-Sun, we saw data from PropTrack’s latest Rental Report which indicated that the availability of rental stock in Melbourne had dropped by more than 25 per cent over the past year alone!

This squeeze in the availability of rental properties has meant that rents are rising across Victoria. This, not surprisingly, has encouraged more people to consider becoming a property investor for the first time, or to add to their portfolio if they already own a rental property.

Here at Barry Plant Gladstone Park we’ve certainly seen in increase in activity from prospective investors over the past few months. One recent example was the sale of the three-bedroom home (pictured) in Walpa Court in Westmeadows. Boasting a family-friendly position in a quiet cul-de-sac with an abundance of parkland a few doors away, this home was comfortable as-is, but also had scope for future improvements, adding to the appeal for investors. Indeed, some buyers even mentioned the possibility of future subdivision.

In the end, this level of competitive interest from investors and first home buyers saw the SOLD sign go up at a very pleasing $645,000.

As you see from results like this one, there is a very strong argument for local homeowners to think about selling their property now while stock is in such short supply, rather than waiting until Spring.

So if you’re interested in exploring the pros and cons of selling now rather than waiting to compete with the flood of new listings hitting the market in Spring, (and don’t forget that Spring is now just six weeks away), the team at Barry Plant Gladstone Park will be more than happy to help you weigh up your options. Why not give us a call this week on 9330 1088?

Cheers,

Nick Pugliese - Sales Director

and Bill Karp - Director

Barry Plant Real Estate

Gladstone Park