Residential vacancy rates down to 2 percent: Pete Wargent

Residential vacancy rates down to 2 percent: Pete Wargent
Residential vacancy rates down to 2 percent: Pete Wargent
EXPERT OBSERVER
 
The national residential vacancy rate was stable at 2 per cent in March.
 
This represents a slight decline from a year earlier, when the vacancy rate was 2.1 per cent.
 
Only Melbourne and Hobart had higher vacancy rates than a year earlier. 
 
Given that properties need to be advertised for 3 weeks before being classified as vacant, there's more likely to be a jump in April as Airbnb operators and other short-term accommodation providers are forced to try more conventional routes for leasing their properties.
 
The 6-month moving average by capital city is plotted below, not seasonally adjusted:
 
 
With more short-term units hitting the market the median asking rental price was down in March.

PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.
Tags: 
Vacancy Rates Residential Assets

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