Wooloomooloo Parramatta Region Rental Market Update Q2 2022. George Kollias | 0498 005 039 Leasing Team | 02 8116 9446 belleproperty.com/parramatta
George's Quarterly Insights. Low Vacancies Throughout the Covid-19 pandemic, rental vacancies within the region hit an all-time high, peaking around 5.3% in December of 2020. Historically rates have sat round the 2% mark. In the past quarter rates have continued to decline to 1.9% in June. George Kollias | 0498 005 039 April - June 2022 In the second quarter of 2022, we have seen a continuing change in the rental market within the Greater Parramatta Regions. The two key themes are low vacancies and rising rents. Rising Rents The low vacancies have had a direct impact on asking rents in the past quarter. Much of the increases will be a recovery of rents lost in the past two years, and are more in line with long-term trends. Future increases will depend on the success of the local CDB together with immigration.
George Kollias Business Development Manager 0498 005 039 Anthony Dosen Leasing Consultant 02 7906 2937 The Team. Our Specialised Leasing Team Led by George Kollias, the team at Belle Property Parramatta who on average lease over 800 properties per year are renowned for finding quality tenants and achieving premium results. Leena Arabi Leasing Consultant 02 7906 2936 Moses Metlege Leasing Consultant 02 7906 2917
Local Insights. Vacancy Rate 170 Leased Listings 1.9% 11,034 Total Rental Enquiries 2,855 Rental Applications Belle Property Parramatta Average Days On Market Parramatta Region Average Days On Market 20 10 LEASED
Light Rail Update. Major construction is underway on Stage 1 of the Parramatta Light Rail, with 100 per cent of track installed along the 12kilometre alignment and work underway on the light rail stops. The project will provide the people of Parramatta and the surrounding areas with a first-class transport system as well as support more than 5,000 local jobs. Stage 1 of the Parramatta Light Rail will connect Westmead to Carlingford via the Parramatta CBD and will interchange with trains, buses, ferries, Sydney Metro West, and Parramatta Light Rail Stage 2 The NSW Government recently committed $602.4 million to proceed with Parramatta Light Rail Stage 2, with the project’s Environmental Impact Statement to be released for public comment by the end of the year. Construction of the Stage 2 project will begin with enabling works to deliver the vital bridge connection across the Parramatta River between Wentworth Point to Melrose Park.
Weekly Asking Rents Spring boarding off the back of the low vacancy rates, landlords have found themselves in a position to capitalise with the median rents in the Greater Parramatta Region steadily increasing. Weekly rents are returning almost to a point seen prior to the pandemic which is great to see. Vacancy Rates The Greater Parramatta Region has undergone a promising change on the rental front post pandemic. The opening of the boarders & international travel returning has seen an influx in the demand for dwellings which has led to the average days on market & vacancy rate being greatly reduced. The Greater Parramatta Region Rental market trends Region Statistics.
$840 Per Week 1 Bradley Drive, Carlingford LEASED Leased the Belle Property way. 6-month Leased History (Units & Houses) $1350 Per Week 34 Pennant Hills Road, North Parramatta LEASED $580 Per Week K623/2 Morton Street, Parramatta LEASED $540 Per Week 1/223-227 Carlingford Road, Carlingford LEASED
belleproperty.com Information about this report: We (the agent/cy) have endeavoured to show all sales reported by all agents and individuals as listed on publicly available sources for the mentioned period. We believe this information to be accurate, whilst all care has been taken, no representation has been made and no responsibility is accepted for the accuracy of the whole or any part of this document. Individuals are directed to rely on their own enquiries. Please disregard this publication if your property is exclusively listed with another agent. Properties displayed are only those which have been publicly listed and sold by multiple agents/cies in the area. We advised you seek independent advice on your area statistics if you are thinking of buying or selling. Contact. George Kollias 0498 005 039 george.kollias@belleproperty.com /parramatta
www.belleproperty.comRkJQdWJsaXNoZXIy MTI3ODI1