I remember when I was young, I was always jealous of my 2 sisters who both had birthdays in January, and they could always have pool parties. My birthday was late March and it would be too cold by then. The past 4-5 years however I could have easily enjoyed a pool party in late March with my average birthday temps in the mid 30’s.
We all talk about the fact that the seasons have changed, and I think it’s time all Victorians got together and agreed on new dates for each season to begin. ?
Now whilst that’s all very amusing what’s happening with the real estate seasons? That is the question!!!
Here we are, mid-November (almost summer) and the weather has been more reminiscent of winter than Spring.
The leasing market in Melbourne CBD usually experiences a slight lull over winter and then bounces back quickly in Spring. This year, we are yet to experience the bounce back and it has us wondering if the leasing market, like us, is still waiting for the change of the season. Of course, in Melbourne CBD we must consider, has the abundance of new construction added to the icy effects of winter?
Now we are not talking about devastating change, we’ve had an incredibly strong few years in the rental market which we’ve all enjoyed but we are still experiencing what we would normally call the “winter lull”.
We are watching the market closely, always assessing all things we do to ensure we are maximising leasing opportunities at best possible prices in the shortest possible time to the best quality tenants.
We need to remain vigilant and flexible and hence I remind all Landlords or potential landlords to ensure your property is in the hands of someone experienced and educated, who helps you understand the market. Once you have the right agent, remember to trust in their professionalism and follow their advice.
Our team are here to help, contact them to discuss your property or the market today.
Here at Harcourts Melbourne City we’re looking forward to a little more sunshine to warm up the market. We hope to report back soon that mother nature has delivered the sunshine and again heated up Melbourne’s leasing market.
Dionne Wilson - Driector
