Vacancy rates fall while rent rises: SQM Research
Residential vacancies fell nationally in January for a national vacancy rate of 2.4 percent, down from December's 2.8 percent according to SQM Research.
According to SQM Research all capital cities recorded falls in January.
Louis Christopher, SQM research managing director said Sydney's vacancy rate fell to 2.0 percent from 2.4 percent in December, while Melbourne's vacancy rate fell to 2.0 percent from 2.5 percent, which could pressure rents higher in both cities.
"Perth continues to record the highest vacancy rates for any capital city at 4.8 percent and asking rents are still falling there," he said.
"Hobart now has the lowest vacancy rate of just 0.7 percent, reflecting very tight rental conditions which are also been experienced in other parts of Tasmania (Launceston is at 1.6 percent).
