Apartment oversupply?

For years we’ve been hearing about the “oversupply” of new apartments threatening new owners with long vacancy periods. But is this true? As 2017 is coming to a close, the Robinson team have leased a record 736 properties during the year with a vacancy rate for October 2017 of only 1.3%! This is extremely low compared to the latest REINSW report of 2.9%.  Our Project Leasing Team experienced large volumes of enquiries from quality tenants who have leased within the new apartment complexes, Edition, SPIRE, Arena North and many others.

The market strength is proven, with some recent unfurnished rents achieved of $870pw in the Menkens, $950pw at Bathers Residence, Merewether and $1100pw within Azura.

Investment oversupply?

Time will tell with more stock to be released in 2018, but based on the leasing uptake and rents achieved throughout 2017, it appears the truth is; Newcastle is the place to invest.

Entrusted to manage in excess of 2100 properties across Newcastle Lake Macquarie and Port Stephens, we at Robinson help investors grow wealth through property and tenants find quality housing.  If your property is vacant, or if you are unhappy with your property management service, we are here to help, with management packages commencing at 3.96%.

Welcome better

Better property management is better investing. Welcome better. Robinson Property.

Simon Boyle

Operations Manager, Property Management

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