Each November and December our rental property search service goes through the roof. Demand increases by over 50%. Its our busiest and most challenging time of the year. So when’s the best time to find a rental property in Melbourne, Sydney, Brisbane or Perth?
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The Best Time to Find a Rental Property
It’s worth considering these key factors which significantly affect the rental market.
The Christmas Deadline
What many people fail to consider is that it’s a popular time for many other people to relocate too. So unfortunately, that means that there is a lot less rental properties to choose from as you are competing with so many other people during this time.
For some reason, everyone sets a deadline of moving before Christmas. It’s like the world is going to end and everything has to be done before Christmas. So ask yourself will it really matter if I move in January or February?
Christmas Holiday Break
Many agents close down between Christmas and the New Year. You will also find many agents don’t come back untill the second week in January. So that means their will be no open for inspections during this time.
Start of the School Term
Obviously, if you are moving with kids, then this is a key deadline that cannot be moved. But with lots of other family’s also working towards this deadline it effects the stock levels. So keep this in mind.
My biggest tip for clients is to start the process. Many of our clients will consider securing a property and signing a lease from October onwards. This way, it avoids that last-minute rush of trying to find a property.
As a side note, its worth also keeping in mind that most public schools hold school tours early in the year i.e. March, April and May. So, if you know well in advance that you are relocating, you may be able to plan to attend an inspection early in the year. Or you may choose to engage Australian Relocation Managers to help you manage this process. However, if you are planning to send your kids to a private school then its easier to organise a tour of a private school at any time of the year. You should also be aware that some schools may be reluctant to accept students late in the year, especially if they are in years 10, 11 and 12.
Popular School Rankings
This has a MASSIVE effect on the availability of rental properties, especially at the end of the year, when everyone is trying to finalise a school and rental property before end of term. As private school education is so expensive (think $20,000 per year for your child), it’s no wonder that many people seek out the best rated public schools available. So be prepared for limited stock in these areas. Also, these properties will be leased super quickly and there will be loads of competition to secure them as well. So, if you are flexible and can look at other surrounding suburbs, then that may be a good option.
Removalist and Shipping Deadlines
December and January is the busiest time for removalists. So if you are moving around Christmas time, then I would highly recommend that you secure and book a removalist as soon as possible (ideally before October). If you need help with this service then contact Australian Relocation Managers. We work with a number of trusted removal companies and can manage your entire relocation process.
Start of the Financial Year
Traditionally winter is a quitter time to move. Often companies don’t have new budgets approved until the new financial year. So that means more recruitment activities take place in the first half of the new financial year and then there is a spike in executive relocations in October and November
Overall, I have found that the demand in Melbourne, Sydney and Brisbane is very similar. However, in Perth there is not quite the same demand (Sorry Perth). For the last few years we have relocated more clients out of Perth than into Perth. Stock levels seem to be consistent.
So when is the best time to find a rental property. We know that Melbourne and Sydney have a very low vacancy rate throughout most of the year. However, with the Christmas rush, it makes it such a busy time of year to relocate. So if you are in the position to move later then that may be a better option for you. For some tips on helping to apply for find a rental property, click here.
However, if you are finding that moving house and trying to find a perfect rental property is becoming to overwhelming then Australian Relocation Managers can help. We help people relocating to Melbourne, Sydney, Brisbane and Perth (at any time of the year).