Perth landlords face a 5.2 percent rental vacancy rate: SQM

Perth landlords face a 5.2 percent rental vacancy rate: SQM
Perth landlords face a 5.2 percent rental vacancy rate: SQM

Perth has recorded the largest monthly rise in rental vacancies with a 0.2 percentage point climb over July, according to SQM Research.

Year to year Perth vacancies have climbed 1.4 percent, to 10,738.

The national residential vacancies level went up during July to record a vacancy rate of 2.5 percent or 79,300 vacancies. 

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Perth landlords face a 5.2 percent rental vacancy rate: SQM

 

Louis Christopher, managing director of SQM Research said asking rents in Canberra continue to rise; up 11.0 percent for houses and 9.8 percent for units.

"Notably, Hobart continues to record the most affordable rental accommodation with rents for houses at just $340 a week and units averaging $280 a week," he said.

"Overall, vacancy rates remain steady for the major capital cities. Perth continues to be the ongoing exception with further increases in vacancies this month as the mining downturn continues to hit the economy hard.

"I believe the national vacancy rate will continue to creep upwards.

"Melbourne may start to record higher vacancies next year under the weight of completed apartment developments; but for now Melbourne remains a landlord's market.

"Sydney is unlikely to record such a surge in vacancies as we believe the city's population expansion is going to absorb much of the new stock.”

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Perth landlords face a 5.2 percent rental vacancy rate: SQM

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