Property searches boom
Property searches have surged to be up by a record +49 per cent from a year earlier, reports Cameron Kusher at REA Group here:
Source: REA Group
Not much downside likely for property prices, then.
But for Airbnb landlords, CBD short-stay apartments, and student lets, there is a significant challenge at the moment, with the borders closed and short stays effectively impossible.
The most heavily impacted area will likely be the Central Business Districts of Sydney, Brisbane, and Melbourne respectively, in that order.
Source: SQM Research
Landlords without tenants will have the option to take a 6-month payment holiday, but beyond that point there may be problems if freedom of movement remains curtailed.
Fortunately the domestic economy looks set to re-open soon, and in any case lower rents aren't always a bad thing if they free up some cashflow for renters.
Landlords have already benefited from falling mortgage rates, after all.
Fortunately the domestic economy looks set to re-open soon, and in any case lower rents aren't always a bad thing if they free up some cashflow for renters.
Landlords have already benefited from falling mortgage rates, after all.
