Tight rental market here to stay

By webmaster

There is no change in sight for the Australian rental market, with October recording another “excessively tight” national vacancy rate of 1.8 per cent, SQM Research managing director Louis Christopher said.

“For the mean time we do not see any light at the end of the tunnel where the rental market is concerned,” Mr Christopher said.

“The trends remain the same with no change in sight.”

Vacancy rates have remained consistently tight in recent months, with October recording a slight fall of 0.1 per cent – with total vacancies now sitting at 45,896 nationally.

Melbourne is leading the way in vacancies for capital cities, remaining steady with a vacancy rate of three per cent and 10,956 vacancies.

Canberra continues to experience the tightest vacancy rate of 0.7 per cent – a total of 302 vacancies. It is closely followed by PerthPerth, TAS Perth, WA, where vacancies fell 0.2 per cent during October to 0.7 per cent (1,119 vacancies).

Perth and Hobart experienced the largest monthly declines, both falling by 0.2 per cent during the month of October 2011 to 0.7 per cent and 1.9 per cent, respectively.

Sydney vacancy rates remained steady at 1.3 per cent in Octoboer, with a total of 7,356 vacancies.

The Real Estate Institute of New South Wales (REINSW) found that vacancy rates rose slightly (0.2 per cent) in Sydney’s middle suburbs and outer suburbs (0.1 per cent).

“There will be no relief for tenants until we see interventionist action to encourage private investment, as well as slashing that planning red tape which is slowing new residential development,” said REINSW President Wayne Stewart.

“Until then, we will see growing numbers of people competing against each other for an ever smaller number of available properties,” said Mr Stewart.

Tight rental market here to stay
SPI logo
Thank you.

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

We will be in contact with you shortly.

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
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
BLUE BAY 49.18%