How The North Lakes/Mango Hill Rental Property Market Is Fairing During COVID-19.
We share the statistics of exactly how COVID-19 is affecting the North Lakes, Mango Hill & surrounding property market so far…
What a year it’s been so far.
Our industry like many others, is assessing the property market more regularly than ever due to the uncertain nature and fluctuating behaviours caused by COVID-19.
Here’s some updates on the North Lakes, Mango Hill & surrounding property market so far.
Good News for Local Median Rental Prices
In terms of average weekly rent prices, a twelve-month analysis on realestate.com.au has revealed some markets are proving more robust than others, including North Lakes and Mango Hill.
The median rental price for a house in North Lakes currently sits at $430/w. A 1.2% increase from the previous 12 months. Whereas unit rental prices are sitting at $370/w with no change.
For Mango Hill, houses are currently at an average of $445/w with a 1.1% increase and $355/w with a 1.4% increase for units.
Alternatively, we saw a decrease in Deception Bay rental prices of -1.5% and Murrumba Downs of -1.1% for houses.
No change is recorded for Rothwell, Kallangur, Griffin or Clontarf.
However there has been a larger increase for Petrie at 2.6% and Dakabin at 1.2% sitting on par with North Lakes.
See the image below for more details.
What We’ve Noticed In Our Market
Prior to the pandemic in Australia, the median rent prices in our local area of North Lakes and surrounds were starting to see a noticeable increase.
We had high quality tenants (here’s how to attract these in any market!), and were able to achieve maximum rent prices for our landlords.
“I now find the rent prices are cautiously stable for the area and will continue to monitor this closely on a week by week basis.” Rachel Butterworth – Leading Property Manager
You can follow our blogs, Facebook page or subscribe to our newsletters for updates on the local market to get localised advice you can count on.
How We’re Navigating The Changes
While closely assessing the local market weekly, we adapt the way we advise our investors and appraise each property.
“This means we can still achieve maximum rental price based on the current market in real-time, while keeping vacancy rates low.”
It’s important now more than ever to have a really good, experienced property management company looking after your investment.
So choose wisely, or make the switch today and avoid losing valuable income due to bad management.
Comments