Rental listings drop, yet may be seasonal result: SQM Research

The vacancy rate across the country fell during September to 2.2%, at 64,458 vacancies, according to SQM Research.

Stable vacancies were seen over the past few months, with this being the first notable decrease, which SQM Research’s managing director Louis Christopher notes that it could be due to seasonality. Earlier years have reflected similar decreases.

The current vacancy rates, for September 2014:

Perth: 2.5%

Melbourne: 2.5%

Brisbane: 2.2%

Canberra: 2.1%

Darwin: 1.8%

Sydney: 1.7%

Adelaide: 1.5%

Hobart: 1.4%

All capitals fell over September, excluding Darwin which has seen a 1% increase over the year and a 0.3% increase over the month.

Perth, where there has been a substantial softening of 1% over the year as well, saw a 0.1% reduction over the month.

The surprising result is Hobart, where SQM Research notes that a recovery appears to be in progress. The capital recorded the largest yearly decrease – dropping 0.5% from 1.9% in September 2013. Over the month it fell a further 0.2%.