Sydney's October vacancy rate at low 1.6%: SQM Research

Sydney's October vacancy rate at low 1.6%: SQM Research
Sydney's October vacancy rate at low 1.6%: SQM Research

The level of residential vacancies rose nationally in October with a 2.3% increase over the month to 70, 827 according to SQM Research.

But Canberra and Sydney notched up monthly falls.

SQM Research managing director Louis Christopher said vacancies have been soaring in Perth and Darwin, while east coast capital cities have been stable.

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Sydney's October vacancy rate at low 1.6%: SQM Research

“There is a sharp contrast in the national rental market at this point in time," he said.

"Vacancies have been soaring in Perth and Darwin, while our east coast capital cities have generally been stable. This is just one indicator on how the mining downturn has effected the economy.

"Clearly, not everywhere has been effected, but those cities and townships that do have exposure have been hit hard.”

SQM Research reported vacancy rates stayed the same for Adelaide and Brisbane over the month, year-on-year vacancy rates dropped in both Melbourne and Hobart and Sydney vacancy rates remain unchanged over the last year, with figures from October 2015 recording a vacancy rate of 1.6%.

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Sydney's October vacancy rate at low 1.6%: 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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Vacancy Rate Rental market

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