As the impacts of COVID-19 began ramping up around March / April 2020, the NSW Government announced temporary measures to restrict when landlords can evict tenants due to rental arrears as a result of COVID-19. In addition, the Government increase the notice period for certain other cases for termination to 90 days.
These restrictions were originally due to end on 15 October 2020. They have now been extended until 26 March 2021.
In NSW we are endlessly presented mainstream media reports about the property market, heavily skewed by data from Sydney and Melbourne. The reality is that so much of what we are presented simply does not apply in our local area or regional areas generally.
In this post we present the latest data specific to vacancy rates across Newcastle and Lake Macquarie, and discuss research showing that people are relocating to regional areas away from capital cities, which is in turn helping to drive house price growth and these lower vacancy rates in regional areas.
A common topic of conversation with our investors is whether they should offer their property furnished or unfurnished. There are several factors which contribute to determining what is best in each particular instance, as we will cover below.
Carnelian Property Management Newcastle NSW
We are a family-owned and run Charlestown real estate agent offering expert property management across Newcastle and Lake Macquarie.