Vacancy rates hold while asking rates slip in April

Investors with properties in Adelaide, Melbourne, Brisbane and Darwin should be celebrating, as these capital cities saw vacancy rates decline by 0.1 per cent to 1.3 per cent in Adelaide and Melbourne, 0.2 per cent to 3 per cent in Brisbane and 0.3 per cent to 3.3 per cent in Darwin.

Perth and Sydney properties could also be considered lucky, as their vacancy rates remained steady at 4.1 per cent and 2.3 per cent respectively.

Meanwhile, Canberra and Hobart saw their vacancy rates rise by 0.2 per cent to 0.8 per cent and by 0.1 per cent to 0.7 per cent respectively.

Nation-wide, asking rents for both houses and units declined over the month by 1.6 per cent to $437 per week and 0.8 per cent to $360 per week respectively. The asking rents for the capital city is slightly less bleak for units, with a rise of 0.5 per cent to $445 per week, while houses declined by 1.6 per cent to $554 per week.

The most expensive asking rent rate in the country for houses and units is Sydney at $726.50 per week and $525.20 per week respectively, while the cheapest asking rent rates for houses and units are in Adelaide at $382.20 per week and $299.80 per week respectively.

Darwin and Perth both saw declines for both houses and units, with Darwin’s house rents declining 3.4 per cent to $540.70 per week, the largest percentage decline for houses for the month, and unit rents declining 0.3 per cent to $402.50 per week, and Perth’s house and unit rents by 0.6 per cent to $421.20 and $324.10 respectively, which was the largest percentage decline for units for the month.

Canberra was the only capital city to see both house and unit rents rise, by 0.2 per cent to $618.60 for houses, the only rise for houses, and 0.5 per cent to $441.60 for units.

The largest rise recorded for units was in Hobart at 1.2 per cent to $360.50.