RESIDENTIAL PROPERTY
THE national vacancy rate held at 0.8% last month, its lowest point on record, as vacant rental listings hit an all-time low for the month of April.
According to the latest data from Domain, while the national rate was unchanged, vacancy rates were up over much of the country’s capital cities.
The combined capitals also held steady at 0.8% over the month, while Sydney was up from 0.9% to 1.0%, Melbourne from 0.8% to 0.9%, Adelaide from...
“It continues to be a challenging environment for tenants but the run of steady vacancy rates suggests conditions have stabilised,”...
“It is positive to see that the majority of cities are seeing a rise or stabilising, so if this trend continues, it could indicate a turning point for...
For Sydney, April marked the first increase this year, attributed to a monthly increase in rental stock of 4.6%, despite sitting at...
Melbourne’s vacancy rate saw the first increase in four months with a 8.4% boost to vacant rentals. This despite seeing the...
Hobart saw the greatest increase over the month, up from 0.8% in March to 1.1% in April, was up on the 0.4% rate from the...
With Brisbane seeing a 3.8% increase in vacant rental stock for the year and an 8.4% boost annually....
Darwin was the only capital to constrain further, from 0.9% to 0.7%, which is 0.2% below its previous record low in June 2022....
This comes as CoreLogic reports combined capital cities saw a massive 11.7% increase in rents over the last year, its greatest on record.
“Rising and record asking rents will persist until we see vacancy rates lift much higher but we might start to see a slowdown in the...
While national vacant rental listings hit an all-time low for the month of April, they have been steadily rising to their highest point...
This annual drop has been driven by declines in Sydney and Melbourne, while most capitals are starting to see improvements.