RESIDENTIAL PROPERTY
THE national vacancy rates have hit a new record low, at 0.7%, despite demand easing across February hinting at improving conditions for renters...
According to Domain’s latest Vacancy Rates Report, Australia’s vacancy rate hit an all-time low over February, which was attributed to ongoing population growth, a slow construction...
Over the month, the average views per rental listing also declined and was lower compared to previous Februarys...
“While the vacancy rate hits a record low, it’s crucial to consider the bigger rental market picture,” said Nicola Powell, chief of research and economics at Domain...
“The number of prospective tenants per rental listing is easing, indicating falling competition between renters. This supports the trend of slowing rental growth, suggesting demand...
Mirroring the national rate, the combined capitals saw the vacancy rate decline from 0.8% to 0.7%. While the combined regions were steady at 0.8%...
In both Sydney and Melbourne, the rate fell from 0.9% in January to 0.8% in February, which was a record low for Sydney and a return to a low last seen in...
Brisbane fell from 0.8% to 0.7%, with Perth back down to a record low from 0.4% to 0.3%, Canberra down from 1.5% to1.3% and Darwin from 1.4% to 1.3%...
“There are a number of first-home incentives across the states and the prospects of the hotly discussed Help to Buy scheme,” added Powell...
“We’ve seen more first-home buyers entering the market. This trend will likely accelerate with the introduction of new incentives for first-time buyers, coupled with...