RESIDENTIAL PROPERTY
THE national vacancy rate has fallen to 1.2% in August, as the rental crisis only intensifies across the country...
According to SQM Research, residential rental vacancies dropped to 3,430 dwellings to 35,425 vacant and available properties nationally...
Each capital city recorded a decline or was stable over the month, with Perth recording the lowest rate at 0.4%...
Adelaide followed, down to 0.5%, Brisbane at 0.9%, Sydney at 1.4%, Hobart at 1.7% and Canberra at 1.9%...
The rental vacancy rate in the Sydney CBD declined again to 4.6% after increasing in July. With both the Melbourne and Brisbane CBDs declining to 5.2% and 1.8% respectively...
Many regional areas also saw a decline in vacancy rates, with the North Coast NSW dropping to 1.6%, the Gold Coast Main to 1.3%. While the Blue Mountains was...
“Over the first half of 2023, there was a mini reprieve for tenants due to a modest lift in rental vacancy rates, especially for our regional townships,”...
“Tenants increasingly sharing accommodation together somewhat assisted in the easing. However, in more recent months, the rental market has tightened once again.”...
Meanwhile, the national median weekly asking rent for combined dwellings was at $584.32/week for the week ending 12 September...
With the median capital city asking rent for a combined dwelling at $677.25/week, with the median for a house at...
Sydney house rents were the most expensive on the market at $977.65/week, while Adelaide units were the most affordable at...
Canberra saw a drop of 1.4% for combined dwellings over the month, likewise in Hobart where the combined asking rent fell by...
“Going forward, I expect the low rental vacancy market to be maintained. In response to shortages, housing formation will continue to contract and unfortunately...