National vacancy rate steadies in February: SQM Research
The national residential vacancy rate has remained steady at 2.2% in February 2019, according to the latest data from SQM Research.
The total number of vacancies Australia-wide is now at 72,333, it said.
Adelaide was the only capital city to increase its vacancy rate over the month, from 1.1% in January to 1.2%, resulting in 2,197 properties available for rent in February 2019.
Brisbane, Canberra, Darwin and Hobart experienced marginal decreases of 0.1% in vacancy rates.
Melbourne decreased by 0.2% over the month to 1.7%.
Sydney and Perth’s vacancy rates remained steady at 3.2% and 3.0% respectively.
Hobart still remains the lowest of all capital cities at 0.4% for February 2019.
Darwin ranks the highest of all capital cities at 3.7%.
| City | Feb-2018 Vacancies | Feb-2018 Vacancy Rate | Jan-2019 Vacancies | Jan-2019 Vacancy Rate | Feb-2019 Vacancies | Feb-2019 Vacancy Rate |
| Sydney | 15,581 | 2.3% | 22,426 | 3.2% | 22,396 | 3.2% |
| Melbourne | 7,889 | 1.4% | 10,564 | 1.9% | 9,818 | 1.7% |
| Brisbane | 10,925 | 3.4% | 8,911 | 2.7% | 8,611 | 2.6% |
| Perth | 8,319 | 4.1% | 6,121 | 3.0% | 6,170 | 3.0% |
| Adelaide | 2,540 | 1.4% | 2,141 | 1.1% | 2,197 | 1.2% |
| Canberra | 495 | 0.8% | 594 | 0.9% | 502 | 0.8% |
| Darwin | 989 | 3.3% | 1,193 | 3.8% | 1,161 | 3.7% |
| Hobart | 145 | 0.5% | 144 | 0.5% | 133 | 0.4% |
| National | 69,727 | 2.2% | 72,574 | 2.2% | 72,333 | 2.2% |
Source: SQM Research
Asking Rents
Capital city asking rents declined 0.2% for both houses and units over the month to 12 March 2019 to $559 per week for houses and $441 per week for units.
Similarly, over the 12 months, asking rents for both houses and units also declined by 0.2%.
Adelaide and Hobart recorded increases in weekly rents over the month for both houses and units with Hobart houses recording the highest weekly rental increase of 4.5% for houses and 1.8% for units.
Sydney, Brisbane, Canberra and Darwin recorded marginal decreases in both house and unit asking rents over the month to 12 March 2019.
| SQM Research Weekly Rents Index | |||||
| Week ending: 12 Mar 2019 | Rent | Change on prev week | Rolling month % chg | 12 month % chg | |
| Sydney | All Houses | 706.9 | 0.1 | -0.5% | -4.3% |
| All Units | 507.2 | -0.2 | -0.7% | -3.2% | |
| Melbourne | All Houses | 543.6 | -0.6 | -0.0% | 2.3% |
| All Units | 420.1 | 0.9 | 0.7% | 4.0% | |
| Brisbane | All Houses | 456.8 | -0.8 | -0.1% | 2.1% |
| All Units | 370.9 | 0.1 | -1.0% | 1.2% | |
| Perth | All Houses | 440.5 | 0.5 | -0.1% | 4.2% |
| All Units | 333.3 | 1.7 | 1.4% | 2.0% | |
| Adelaide | All Houses | 394.8 | 1.2 | 0.6% | 3.4% |
| All Units | 302.4 | 0.6 | 0.9% | 2.3% | |
| Canberra | All Houses | 644.9 | 3.1 | -0.0% | 4.1% |
| All Units | 455.1 | -0.1 | -1.2% | 4.0% | |
| Darwin | All Houses | 490.3 | -0.3 | -2.8% | -9.5% |
| All Units | 378.4 | -0.4 | -1.6% | -8.6% | |
| Hobart | All Houses | 437.7 | 6.3 | 4.5% | 3.7% |
| All Units | 364.4 | -2.4 | 1.8% | -0.2% | |
| National | All Houses | 447.0 | 2.0 | -0.2% | 0.9% |
| All Units | 360.0 | 0.0 | -0.6% | 0.8% | |
| Cap City Average | All Houses | 559.0 | 1.0 | -0.2% | -0.2% |
| All Units | 441.0 | 0.0 | -0.2% | -0.2% | |
Source: www.sqmresearch.com.au