Residential vacancy rates fall in every capital except Brisbane and Darwin in September: SQM Research

Residential vacancies have slipped in every state capital except Brisbane and Darwin over September, according to SQM Research.

Hobart experienced the biggest proportional drop in vacancy rates, slipping from 2.7% in August with 730 vacancies to 2.3% in September with 632 vacancies.

Sydney's vacancy rate dropped slightly, from 1.8% at 9,773 vacancies in August to 1.7% in September at 9,296 vacancies.

Melbourne slipped ever so slightly from 11,702 vacancies to 11,649 vacancies, leaving the vacancy rate of 2.8% unchanged.

Canberra dropped from 1.2% with 590 vacancies to 1.1% with 538 vacancies.

Vacancies in Brisbane rose slightly from 4,003 vacancies in August to 4,231 vacancies in September, leaving the vacancy rate unchanged at 1.5%.

Darwin and Perth both recorded low vacancy rates as usual, at 0.5% and 0.6% respectively.

In Perth vacancies dropped from 1,177 to 1,063, and in Darwin vacancies rose slightly from 114 vacancies to 131 vacancies.

Melbourne’s vacancy rate was closest to the 3% figure SQM considers to be the equilibrium figure for residential figures.

Across the nation vacancies slipped from 50,774 to 49,664 leaving the vacancy rate unchanged at 1.8%.

SQM director Louis Christopher says the status quo remains unchanged across Australia.

“Residential rental vacancy rates remain in favour of landlords as has been the case for a number of years now. Going forward I see no material change to this current trend until there is a material increasing in housing completion levels. Currently there is no evidence that such an event is about to occur,” Christopher says.