To summarise the first quarter of 2022 in one word would be: PERSERVERANCE. Nidd Property Management successfully managed expectations and navigated many of the disruptive changes linked to COVID-19 and preventing the spread of the virus within our community. Renting a total of 25 properties within 22 days at an average of $460 per week, with zero Tribunals.
For the month of March 2022 our team maintained a 1.5% vacancy rate within the portfolio, with the demand continuing to be focused on 2- and 3-bedroom properties. We rented 9 properties within an average of 27 days at an average price of $550 per week with the range being between $410 - $795 per week. This range is higher than the previous month, but reflective of the number of rooms and location of each of the properties rented.
There has been an average of 269 properties listed on TradeMe for the month of March 2022 which is aligned with the number of listings in 2021.