CBA ups house price growth expectations but fails to meet Westpac’s optimism
The Commonwealth Bank has revised its property price forecast for 2021 on the back of strong growth in February and Marc...
Capital city vacancy rates tightened over January, new data has revealed.
The Domain Group national vacancy rates for houses and units combined fell to 2.2 per cent, down from 2.4 per cent in December.
All capitals reported a fall in vacancy rates with the exception of, where the rate was steady despite seasonal effects.
Sydney recorded tight vacancies across the board with houses sitting at 1.8 per cent and units 2.2 per cent.
Melbourne reported a 2.0 per cent vacancy rate for houses and a 3.4 per cent vacancy rate for units.
Brisbane’s vacancy rates for houses over January were 2.1 per cent for houses and 3.0 per cent for units.
Adelaide recorded a 1.3 per cent vacancy rate for houses and a 2.0 per cent vacancy rate for units.
Perth reported the highest vacancy rate for houses at 2.4 per cent, while units were 2.9 per cent.
Hobart had the lowest vacancy rates for houses at 1.0 per cent and units were 1.7 per cent.
Canberra’s vacancy rate for houses was 1.3 per cent and units were reported at 3.6 per cent.
Darwin reported a 1.3 per cent vacancy rate for houses and the highest vacancy rate for units at 4.5 per cent.
Domain Group senior economist Dr Andrew Wilson said vacancy rates are likely to ease as the impact of season effects on listings numbers moderates.
“[However], an underlying shortage of house rentals is set to remain in all capitals with the exception of Perth,” Dr Wilson said.
“High levels of new supply of inner-city apartments in some capitals will continue to keep vacancy rates higher for the unit rental market with the prospect of some relief in rent growth for tenants.”