To summarise the third quarter of 2022 in one word would be: ACCEPTANCE. Nidd Property Management successfully managed expectations aligned with the change in legislation applied to tenancy renewals and timeframes associated. This was of significant importance when applied to student flats and when they can be actively marketed for 2023 tenancies. Renting a total of 25 properties within 20 days at an average of $440 per week, with one Tribunal.
For the month of September 2022 our team rented 10 properties within an average of 20 days at an average price of $370 per week, with the range being between $245 - $500 per week. This average price per week is the lowest recorded for the year, however it reflects the limited supply of actively marketed properties for rent which would be expected for this time of year in the lead up to student properties and other targeted properties being advertised.
There has been an average of 396 properties listed on TradeMe for the month of September 2022 which is more closely aligned to September 2021 than what we have seen in previous months, which recorded an average of 438 properties listed on Trademe.
There is increased capacity for our team to bring on new properties into their portfolio, so if you or anyone that you know have properties not managed by Nidd Property Management, now is the time to start the discussion.