Residential vacancy rates strong nationwide: SQM Research

Residential vacancy rates strong nationwide: SQM Research
Residential vacancy rates strong nationwide: SQM Research

Residential vacancy rates held steady nationwide across July at 2.4% based on 73,209 vacancies, according to new figures released by SQM Research.

According to Louis Christopher, managing director of SQM Research, tourist area rents are remaining strong.

"The rental market is on balance slightly in favour of tenants at this point in time, though of course, each city tells its own story," Mr Christopher said.

"Areas exposed to the ongoing mining downturn are generally experiencing falls in weekly rents."

National June vacancy rates were 72,849. Hobart was the only city where vacancy rates fell over the month.

Canberra rose 0.3 percentage points, with Perth 0.2 percentage points.

Mr Christopher said Melbourne has recorded a rise of 3.0% for houses and 2.0% for units, while asking rents in Sydney and Adelaide also recorded modest rises for the same period.

 

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Residential vacancy rates strong nationwide: SQM Research

Click to enlarge

Residential vacancy rates strong nationwide: SQM Research

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

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