Market Recap With Jacob Carlile
What are we seeing in the current market? Here’s a brief market update from Jacob Carlile.
There has been a shift in the real estate market after the winter so a quick market update is significantly presented to you.
In residential properties, it is important that homes are marketed well and presented to the appropriate audience. We've certainly seen a shift in residential rentals involving the quality of applications, thus, it is a necessity to provide a re-education to all our clients. With this, our clients may have to be patient in order to acquire the right tenant to their properties.
On the other hand, there have been a lot of vacancies unfortunately due to rent increases across the board as well as unaffordability so a lot of tenants cannot afford the home that they love, however, the good news is that they are being pushed into more affordable accommodation.
As for commercial properties, it has been really encouraging to see commercial tenants in this part of the market striving from being a startup or home set up to getting their first commercial spaces. It is so overwhelming to see these entrepreneurs having a bit of confidence moving from a home set up to a professional set up.
Lastly, in the larger end of town, we're seeing a lot of attraction so large major national tenants or multinational tenants are moving to the Toowoomba region because indeed, we are such a great place to live. See you in our next market update!