Property News & Updates

Low Vacancy Steady in Major Cities

Building top view

According to SQM Research, vacancies stayed small in most capital cities in July, with the domestic vacancy rate stable at 2.3%. Five of the eight state and territorial capitals recorded declines in their vacancy rates: Brisbane and Adelaide fell by 0.1 percent, while Perth, Canberra and Darwin fell by 0.2 percent over the month. During the month, Sydney, Melbourne and Hobart stayed constant.

Sydney has 3.5 percent largest vacancy rate, compared to 2.8 percent last year at the same time. In July Melbourne remained at 2.0%, up from 1.6% 12 months ago. Hobart’s vacancy rate was constant in July and remains the country’s lowest at 0.5%. The vacancy rate for Adelaide has been steadily falling and is now 1.1 percent, the same tight level as for Canberra, which dropped from 1.3 percent in June.

Perth’s rental market is tightening its vacancy rate is now 3%, down from 3.2% in June and 4% a year ago, giving additional proof of recovery. Brisbane, who sat at 2.9% a year ago, now stands at 2.4% as the rental market continues to grow.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on tumblr
Tumblr

Property Investment Company

Equity Gain is a leading provider of property investment services across Australia. Our team of qualified professionals will guide you every step of the way on your property investment journey.

Related Posts

Follow Us

Equity Gain are Property Investment Specialists who continually analyse the market so they can provide their clients up-to-the-minute advice about all aspects of the real estate market in Australia.

Contact Us

Copyright © 2019 Equity Gain

Scroll to Top