RESIDENTIAL PROPERTY
RENTAL vacancies declined again over the month of July, indicating further increases to come in asking rents in an already extremely tight market.
According to latest PropTrack’s Market Insight, rental vacancy rates were down 0.04% in July to 1.43%, with regional areas also seeing a 0.04% decline to 1.51%.
The national vacancy rate is now almost half the level seen at the start of the pandemic, reflecting fewer rental properties coming to the market and...
“The cost of renting is likely to increase further for Australia’s tenants in the months ahead, with the national vacancy rate falling in July,”...
“Both capital cities and regional areas saw the supply of rental properties decrease over July. Melbourne has seen the sharpest decline in...
Melbourne’s rental vacancy rate was stable over July at 1.41% but down 0.82% from this time last year. In Sydney, the vacancy rate fell...
In Brisbane, the vacancy rate was up a slight 0.01% to 1.15% in July, for a 0.35% change over the year. Adelaide saw a small 0.02% bump over July to...
Hobart was down 0.13% for the month and up 0.73% for the year to 1.75%. With Darwin at 1.72% after a 0.07% increase over July and a 0.08% increase for the year...
“While vacancy rates in regional areas fell over July, they remain above the levels seen 12 months ago in every state, with regional NT and Tasmania seeing the...
“Although, pressure is unlikely to ease any time soon for tenants, with the number of vacant properties predicted to remain at extremely low levels over...