news

Vacancy rates climbing

By Staff Reporter

The level of residential property rental vacancies has increased again during May, according to new figures.

Statistics by SQM Research have shown that vacancies have risen by 0.1 per cent to 2.1 per cent, bringing the total to 59,670 nationwide.

A majority of capital cities either experienced modest rises or remained the same during May. Darwin was the only city to experience a decline, falling from 1.1 per cent to 1.0 during the period.

The figures also showed that Canberra had recorded the highest yearly increase in vacancies, having climbed to 1.5 per cent from 0.7 per cent in May 2012.

According to SQM Research, the latest results reflected a rental market that was continuing to loosen, despite being gradual.

It said it did not predict any massive increases in vacancy rates until there was a mass exodus of renters, which would be prompted by the absorption of stock from the sales side of the property market.

“The rental market is starting to provide some choices for tenants. Vacancies have increased for four straight months now,” said SQM managing director Louis Christopher.

“This is also showing up on our weekly rentals index, where cities such as Canberra and PerthPerth, TAS Perth, WA have recorded falling rents in recent months.”

Vacancy rates climbing
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%