Perth vacancy rates breaks record high: SQM Research

Perth vacancy rates breaks record high: SQM Research
Perth vacancy rates breaks record high: SQM Research

Perth has recorded the largest monthly rise nationally in residential vacancies during June with a 0.3 percentage point rise during June, according to SQM Research.

The national vacancy rate during June 2.5 percent with 77,891 vacancies. Year on year this vacancy rates have increased one percent. Perth vacancies increased 1.4 percent to 10,190 year on year.

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Perth vacancy rates breaks record high: SQM Research

Louis Christopher, managing director of SQM Research said the rental market slump continues for Perth.

"Rents are now down in that city by 23 percent over the last three years," he said.

"Outside the current situation for Darwin, I don’t believe rents have fallen this much for any Australian capital city since the Second World War.

"Perth has recorded ongoing falls in asking rents of 9.1 percent for houses and 10 percent for units over the past 12 months. Yearly falls have also been recorded in Darwin, with asking rents down 2.7 percent for houses and 7.1 percent for units.

"Hobart continues to record the most affordable rental accommodation with houses at just $343 a week, and units averaging $284 a week."

According to SQM yearly falls were also recorded for Canberra, Hobart and Darwin, with Canberra vacancies decreasing 1.0 percent compared to June 2015. Hobart recorded a fall of 0.6 percentage points, based on 249 vacancies. Darwin soon followed with a vacancy rate of 3.0% for the month of May, a yearly fall of 0.5 percent.

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Perth vacancy rates breaks record high: SQM Research

 

Tags: 
Vacancy Rate Rental market

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