Last weekend we had a lovely four-day long break over Easter as we welcomed the cooler months ahead. Bookings for the weekend were reasonable, with the effects of interest rates still being felt. Higher-end properties are still performing well as people feel comfortable making those bookings.
It’s worth noting that as summer events and activities quiet down, other happenings still drive engagement.
- Between the 9th and 12 of June, there is a Mornington Winter Music Festival.
- The Peninsula Hot Springs will see its strongest performing months as the cooler weather brings people in to warm up.
- As well as a smattering of other events that you can look through on the Mornington Peninsula Shire website. And the What’s On Melbourne website.
We mention all of this because among the top drivers of a property’s income are design, unique value, and events – people wanting to be in the area for a given spectacle. These are critical drivers of the demand for an individual property or neighborhood where properties are located.
Takeaways
There are two takeaways to keep in mind over the coming months.
1. Pricing a property and linking that price to whatever is happening in the area is very important.
This is why we are excited about our partnership with Beyond. Our soon-to-be-announced dynamic pricing engine will automatically assess factors such as events, comparable properties, and third-party data to generate a competitive price for each of our properties.
2. As the months are slower, there will be a portfolio of excellent properties charging less than in peak months.
Meaning if you want to stay at a property, take the family away for a weekend for a staycation, or explore a new area in the quieter months. Now is an excellent time to start looking around.
If you want to hear more, reach out to Charlotte or Farah.
Outside of market performance we are introducing new elements to our newsletter.
We want to introduce Sarah from Grove Design Studio. Sarah leads the team at Grove Design Studio and is our go-to collaborator when we bring on new properties to the market.
Over the coming months, we’ll be showcasing styling trends and explaining how elements such as design, furnishings and photography can impact the performance of a property.
Introducing Sarah
“Short-term rentals are an exciting space right now. With new properties coming on board, people are looking for ways to make their properties stand out and generate a higher return. In collaboration with BNB Butler, this is the basis for what we do at Grove Design Studio.
Professionally styled and photographed properties consistently outperform similar listings. We help people achieve a better return on their investment by developing assets for their property such as professionally styled and photographed images for their listing.
Our partnership allows us to help in creating not only a listing that stands out but an incredible experience for guests. Happy guests mean rave reviews and with any luck – a solidly booked calendar!
I’m looking forward to sharing more on how styling and design can help property owners see solid returns in the current market.”
– Sarah
