Rental vacancies still shrinking, now at lowest since 2006
SQM Research’s latest report shows further proof that Australia’s rental market is in crisis — vacancy rates have fallen to the lowest level since 2006. The rental vacancy rate across Australia dropped to 0.9% in August, which is already at an unprecedented territory given the sustained lack of properties over the past six months and the geographical extent of the crisis.
Over the month, vacancy rates across cities and regions either remained flat or declined.
Adelaide reported the lowest vacancy rate among capital cities at 0.3%, followed by Perth (0.4%) and Hobart (0.5%). Overall, the number of rental vacancies across Australia stood at 32,948, down from the previous month’s 36,741. The difference is even bigger from during the same month last year, when vacancies were at 58,856 at a vacancy rate of 1.6%.
By Gerv Tacadena • Fact checked by Emma Duffy • Published 14 Sep, 2022
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