All Topics / Help Needed! / Where can I find vacancy rate info?

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  • Profile photo of madchenmadchen
    Member
    @madchen
    Join Date: 2010
    Post Count: 4
    April 26, 2011 - 6:28 am

    Hi all.  I'm looking to buy my first investment property, in Kangaroo Point Qld.  I've been doing a lot of reading and keep hearing about the importance of checking rental vacancy rates.  I've tried to find this info but haven't had any luck.  Can anyone suggest a good website?

    Profile photo of angelinsydneyangelinsydney
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    @angelinsydney
    Join Date: 2011
    Post Count: 270
    April 26, 2011 - 7:26 am

    Hi Madchen,

    Learning about rental vacancy rates is immaterial.  It is all about choosing the right property in the right location.  As an investor, my philosophy is location, location, location.

    Even if there are 100 houses vacant at one time, and only 10 people looking for accommodation, those 10 people will still choose the house that is in the right location.  If your IP is situated near school, hospital, shops, transport link, you will not be without tenants for long.

    You need to be looking at population drivers.  Are people shifting in or baling out?  Are young people staying or are they leaving? 

    These information are more relevant  than trying to find out what the vacancy rate is.

    I hope this helps.

    Angel

    Profile photo of harryandlloydharryandlloyd
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    @harryandlloyd
    Join Date: 2011
    Post Count: 20
    April 26, 2011 - 7:30 am

    Hi Madchen,

    Not sure about Vacancy Rate websites (although Domain and Real Estate sites have other handy statistics), but 'Your Investment Property' magazine has a section in the back filled with stats like vacancy rates, stock on market and property price guides for houses and units in all states and territories. I bought my first copy on Sunday and must say that as a first time investor myself, I am very impressed with data…especially for us novices!!
    BTW current vacancy rate for Kangaroo Point (4169):
    Feb 10 vacancies = 72, Feb 10 Vacancy Rate % = 1.7
    Feb 11 vacancies = 43, Feb 11 Vacancy Rate % = 1.0

    Hope this helps!!
    Kathryn :)

    Profile photo of madchenmadchen
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    @madchen
    Join Date: 2010
    Post Count: 4
    April 26, 2011 - 7:43 am

    Thanks heaps Angel and Kathryn, that's great info from both of you.  I'm going to view a couple apartments on Thurs night and am really hoping one of them is "the one".  Scary but SO exciting to finally be doing something rather than just thinking about it!

    Profile photo of Jamie MooreJamie Moore
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    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    April 26, 2011 - 10:40 am

    Hi Madchen

    API mag also has this info at the back. Might be worthwhile cross referencing it with the info in YIP mag.

    It wouldn’t hurt to call a couple of local property managers as well and have a chat about current demand.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    mattnz
    Participant
    @mattnz
    Join Date: 2007
    Post Count: 574
    April 26, 2011 - 11:14 am

    Here you go, I understand the postcode is 4169
    http://www.sqmresearch.com.au/graphs/graph_vacancy.php?postcode=4169&t=1

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