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Austin multifamily 2Q 2013: Hendricks-BerkadiaAustin multifamily 2Q 2013: Hendricks-Berkadiahttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=65222013-09-18T10:08:00Z2013-08-25T00:00:00Z

Austin - Hendricks-Berkadia has released its second quarter 2013 apartment data. Increased construction activity led to the completion of 1,740 units in 2Q 2013 — the largest quarterly delivery since the start of 2009.

Rental demand jumped to 2,800 absorbed units during the last three months. The leasing activity was up from the net absorption of 330 units in 1Q 2013.

Developers filed permits for 8,120 multifamily units in the first half 2013. The submission of permits for 16,250 annualized units in June was a 109.3 percent rise in activity from 2012.

Austin Area Vacancy and Rent Comparison
Submarkets Vacancy Avg. Rent
2Q 2013 2Q 2012 2Q 2013 2Q 2012
Austin-San Marcos other 5.6% 7.0% $952 $978
Central 4.7% 5.3% $1,970 $1,952
East 4.6% 6.1% $938 $941
Hwy. 183-Cedar Park-Leander 4.7% 5.2% $952 $917
Round Rock-Georgetown 5.7% 4.9% $950 $942
San Marcos 7.0% 4.7% $898 $827
San Marcos other 8.0% 5.0% $993 $966
West 7.3% 4.6% $1,286 $1,209
Market total* 4.55% 4.9% $1,006 $978

*Market total includes other submarkets not shown in the chart.

Source: Hendricks-Berkadia. Like data? See Austin Market Data Sources.

Berkadia
Austin-Round Rock
Multifamily
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