Harcourts Move – June 2024

Hello and welcome to our June Newsletter for 2024.

As we move into the winter season, there are some great opportunities for our investors from both an investment perspective as well as some options for a mini city break. Read on!

Short Term Rentals Update

The MadeComfy team have made some changes to their platform around the Marriott booking platform, June’s payment date, and the visibility of property performance information in the dashboard. 

The decision to remove properties from the Marriot booking platform and focus on the largest channels such as AirBNB, is designed to give property owners greater opportunity to decrease vacancy rates. 

Please be aware that the new June payment date is Thursday, June 27th. Initially, the payment date was scheduled for Monday, July 1st, however with the cut-off date for booking to be processed for June is the 23rd, this will move the June payment date forward.

The MadeComfy team have recently released some new enhancements on their dashboard that will give you more detailed visibility into the performance of your individual properties. I know this is great news for some of our owners of short term rentals, who love being able to see data behind their investment. 

The new updates include:

• Net revenue: Month-on-month net revenue
• Occupancy rate: Month-on-month occupancy
• Comparative performance tracking: Compare property revenue against forecasts at both 60% and 80% occupancy rates. This enables owners to see how income will track under different booking scenarios
• Detailed revenue breakdown: Gain insights into net revenue on a month-by-month basis or cumulatively, and compare these figures against forecasts based on long-term rental projections

 If you have any questions about how your rental property can benefit from short term stays, or have any questions about the information above, please don’t hesitate to get in touch with Prachi to discuss your options.  

Feel like a winter mini break? Have a look at these fabulous properties ready to welcome you!

Incredible City Views in Convenient CBD Apartment

Sophisticated 2-Bed by St Kilda Botanical Gardens

Fun and Cheeky 70s Styled City Apartment

Spacious CDB 2-Bed by Albert & Fawkner Park

Bespoke 2-Bed Beachfront Apartment

Bayside Apartment Living Close to the Beach

Property Management Update

In our long term business Christina has had a busy few weeks with a number of new rental listings that have leased very quickly. With a very low vacancy rate, it is often a time to look at options of investing in other properties so if you are interested in getting a sale valuation of your property please get in touch with Christina on 0481 172 556.

As always if you have any questions please feel free to reach out to me.

Property Sales Update

As the cost of living continues to rise, its ripple effects are felt across various sectors of the economy, including the property market. From housing affordability to rental rates and property investment, the cost of living crisis is reshaping the landscape of real estate in profound ways. 

Understanding the impact for homeowners, renters, and investors is covered in our latest article ‘How the cost of living crisis shapes the property market’. Read more here >>

According to the PropTrack Home Price Index for April 2024, national home prices lifted 0.23% to hit a new record in April. Prices are now 6.60% above April 2023 levels and prices in the combined capital cities rose 0.21% to a new peak in April, with prices now up 7.19% since April 2023.

However, performance has diverged significantly between the capitals with all capitals bar Melbourne (-0.10%) and Hobart (-0.24%) seeing prices rise in April, though the pace of growth has slowed since March in all cities except Darwin. Read more here >>

Looking for a new investment property?

There are currently 2 great properties on offer to add to your property portfolio at 21 Stockwell Street, Wyndham Vale and 23 Nuttal Street in Mambourin. Both properties are a great option for first home buyers so perhaps it could be a great option for a family member?

21 Stockwell Street, is a splendid example of modern living situated in the esteemed Jubilee Estate of Wyndham Vale. This near-new, quality-built four bedroom, two bathroom and two living area property is immaculately presented and offers a spacious sanctuary for families, investors, and first home buyers alike.

23 Nuttal Street, a pristine residence nestled in the heart of Mambourin, where contemporary living meets convenience. This charming property, an ideal find for first home buyers, astute downsizers, or the savvy investors, boasts an efficient use of space without compromising style or comfort.

If you would like to know more about these properties please get  in touch with Christina on 0481172556 who can help you with any questions about these 2 great opportunities. 

I hope you have enjoyed this month’s newsletter and I thank you for being part of the Harcourts Move team. 

My team and I are always here to help and if you have any questions please don’t hesitate to get in touch.

Until next time, stay connected.

Sadhana and the Harcourts Move Team