National vacancy rates dips in August: SQM Research

The national residential rental vacancy rate marginally declined 0.1% in August 2019 down to 2.2% from July, according to the latest data released by SQM Research.

They found, the total number of vacancies Australia-wide is now at 75,757 vacant residential properties, a decrease of 589 over the month but up 5,310 dwellings over the past 12 months.

Sydney, Perth and Adelaide each recorded minor decreases of 0.1% in vacancy rates while Melbourne and Darwin’s vacancy rates remained steady over the month.

Brisbane, Canberra and Hobart on the other hand saw an increase of 0.1% with Hobart still remaining the lowest in the country at 0.6%.

Over the month, Capital City asking rents declined 0.4% for houses but remained steady for units for the week ending 12 September 2019 to record asking rents of $544 per week for houses and $438 per week for units.

Brisbane continues to be the only capital city to record increases in weekly rents over the month for both houses and units at 0.6% for houses and 0.9% for units.