Local Market Update April 2016

The Cranbourne marketplace continues to remain very busy and strong in its activity in the month of April however a number of factors will have an influence in the coming months. The federal election is one that will have an influence and the Victorian state budget that was released will provide great job growth in the state and provide plenty of confidence throughout the state. In other news it was great to see Cranbourne and the surrounding area announced as being in thetop three areas for growth in Australia. This is an excellent reflection of the activity in the area. Negative gearing will also be a discussion point in the coming months too.

The sales team are starting to see a difference in the market and we expect this to continue throughout the year. We are still achieving a sale and listing per day but we are definitely seeing more skill required in closing these deals and we believe we will start to see the well skilled and experienced agents making a big difference in the marketplace in the months ahead. Overall it was a very consistent effort by the whole team during the past month.

The rental department were very busy again this month. A snapshot of the numbers for the month were 2406 enquiries, 286 inspections on our properties, 1172 tenants inspected our properties, 400 applications and over 40 properties let for the month. All these numbers show the activity being generated by our team and the fact that approximately 10% of theapplications received are actually confirmed to be accepted for our landlord’s properties. We are also seeing a large number of properties available in the marketplace at the moment and this is providing plenty of choice for the tenants in the marketplace.

Until next month