news

National vacancy rates drop

By Staff Reporter

The national residential vacancy rate decreased slightly in September, according to the latest data from SQM Research.

The September 2013 vacancy rate was 2.1 per cent, down from 2.2 per cent in the month of August.

By comparison, the September 2012 rate was only 1.8 per cent.

However, SQM Research managing director Louis Christopher encourages investors to look beyond the national data.

“Currently there is no one national trend in the rental market; the national market is very much segmented, with each city recording completely different trends and results,” Mr Christopher said.

Melbourne has consistently had the highest vacancy rate in the country, at 2.7 per cent.

On the flip side, Darwin’s rental market is extremely tight, with only 0.9 per cent of properties vacant.

The PerthPerth, TAS Perth, WA rate was 1.5 per cent in September 2013, a marked increase from the September 2012 rate of 0.6 per cent.

The most recent Sydney rate is 1.6 per cent, a one percentage point drop from September last year.

Brisbane saw vacancies jump in the past year from 1.5 per cent to 2.1 per cent, while Canberra jumped from 1.1 per cent to 2.2 per cent in the same period.

Hobart fell from 2.3 per cent to 1.8 per cent in the previous 12 months.

Finally, Adelaide has remained steady over the past year at a rate of 1.5 per cent.

Mr Christopher said these trends suggested, by and large, the national rental market skewed towards the landlord’s interests.

“With a national vacancy rate of 2.1 per cent, it does suggest that the rental market remains mildly in favour of landlords, and would suggest rent increases would be running at close to the general inflation rate or just above it at this point in time,” he said.

National vacancy rates drop
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%