RESIDENTIAL PROPERTY
AUSTRALIA’S national vacancy rate hit another new low in October, tightening by a further 0.06 percentage points over the month to just 1.02%, according to...
Rental conditions in the country’s two biggest cities continued to deteriorate. Sydney fell a further 0.08% to a record low of 1.11%, while Melbourne also...
Perth’s vacancy rate came in at below 1% for a 15th consecutive month, falling 0.02% to 0.7%. Brisbane also stayed below 1%, down 0.04% to 0.87%...
Hobart saw the sharpest drop in vacancy of any capital city, down 0.18% to 1.21%, while Darwin was the only city to see a significant rise...
“Tenants faced even tougher conditions in October, with the proportion of rental properties sitting vacant falling to the lowest level on record,”...
“The national vacancy rate has been trending down for well over three years now – a trend that looks likely to continue off the back of strong population growth and...
Melbourne and Sydney have seen the sharpest falls in available rentals over the past 12 months, with vacancy down 0.55% and 0.35% respectively...
Conditions have also deteriorated in regional areas, with vacancy down 0.31% over the quarter. The rest of Tasmania and the rest of Northern Territory have...
Supply targets remain a “huge challenge”
A slowdown in new housing comes just as supply is most needed. Master Builders Australia CEO Denita Wawn said last week that...
The latest Australian Bureau of Statistics data showed that total dwellings approved in September fell 4.6% over the month to 13,144 – a 20.6%...