29 Aug Monash University Drives Strong Caulfield Rental Market
Mike Richardson, Property Manager at leading Caulfield real estate agency Woodards, cannot believe how strong the local rental market is for apartments, thanks to students attending Monash University’s Caulfield campus.
“I simply cannot get enough of properties to rent. Caulfield Heath, the first precinct at Caulfield Village, has proven to be very popular with Monash students, and I cannot see that it will be any different with Precinct 2,’’ he said.
“The demand for rental properties has simply been amazing. What I’m finding is that when one group of students move in they tell everyone else how great Caulfield Village is to live and that generates more demand. A week doesn’t go by when I don’t get a phone call or an email from a prospective renter looking for an apartment to rent in Caulfield,’’ he said.
Apart from students, Mr Richardson is also seeing rental interest from young professionals or older downsizers who like the amenities at Caulfield Village, like the pool, the gym and the beautifully designed and finished communal dining areas.
“We are certainly seeing strong rental returns for property investors and they aren’t having to wait long to fill a rental vacancy. These market conditions are certainly very strong,’’ Mr Richardson said.
Monash University’s Caulfield campus is located just a short walk from both Caulfield Station and Caulfield Village and has a total enrolment of almost 15,000 students as Monash’s second largest campus in Australia.