Low Vacancy Rate and Strong Rental Growth Boost Investor Confidence

Investors accounted for 50% of sales this weekend, a very strong uptick in investor activity. The investor surge can be attributed to higher levels of confidence with vacancy rates below 1% for the Meriton portfolio and rental growth exceeding 10% in just 12 months.

Meriton Founder and Managing Director Harry Triguboff says while the market has been improving due to strong demand and low unit supply, the opening of international borders will further boost the market and push up the property prices. Taking advantage of the record low interest, the investors are already returning and gearing up for the international border opening which will see students and migrants back.

“There isn’t just a low supply of units, but a low supply of quality units that people actually want to invest in and live in.” Said Mr. Triguboff. “Meriton have been developing and building for 60 years, so we have always assessed and understood what people want accordingly, and what we build is exactly what they are looking for.”