National vacancy rate steadies in February: SQM Research

National vacancy rate steadies in February: SQM Research
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

Tags: 
Sqm Research Vacancy Rate

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