George's Quarterly Insights. Low Vacancies Throughout the Covid-19 pandemic, rental vacancies within the region hit an all-time high, peaking around 5.3% in December of 2020. Historically rates have sat round the 2% mark. In the past quarter rates have continued to decline to 1.9% in June. George Kollias | 0498 005 039 April - June 2022 In the second quarter of 2022, we have seen a continuing change in the rental market within the Greater Parramatta Regions. The two key themes are low vacancies and rising rents. Rising Rents The low vacancies have had a direct impact on asking rents in the past quarter. Much of the increases will be a recovery of rents lost in the past two years, and are more in line with long-term trends. Future increases will depend on the success of the local CDB together with immigration.
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