Melbourne's rental vacancy rate tightening: SQM

Melbourne's rental vacancy rate tightening: SQM
Melbourne's rental vacancy rate tightening: SQM

Residential vacancy rates held steady in June, SQM Research figures show, remaining tight across the nation.

There was a vacancy rate of 2.4% posted based on 72,849 vacancies.

Rates remained in the same in most capital cities, excluding Perth, Brisbane and Canberra, where vacancy rates climbed.

The biggest rise was recorded in Perth and Canberra with a monthly change of 0.2 percentage points from May.

Over the year, vacancy rates in Perth have continued to climb with a significant 1.1% jump from this time last year.

Year-on-year, vacancy rates are down for Canberra, Melbourne, Hobart, and to a lesser extent Sydney. 

Melbourne has posted the biggest yearly fall in its vacancy rate from 2.7% to 2.3%.

The Sydney rate stood unchanged a 1.8% in June, slighly better for landlords than the 1.9% of June a year ago,

But the year-on-year rental increase of 3.2% was showing a slow down, said SQM managing director Louis Christopher. 

Vacancies are rising in the resource economy-hit cities of Perth and Darwin. 

Perth's vacancy rate grew to 3.6% from 3.4% in May, well above the 2.5% of last year. 

Darwin sat 3.5% from May, more than double the 1.6% of June last year. 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.


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