Home rental vacancy rates tighten over August

Bad news for tenants with the national capital city rental vacancy rate for houses tightening over August with low levels of vacancies reported in most cities. market update house

Although the rate for houses fell, the vacancy rate for units remained steady over the month at 2.6 percent.

The national unit vacancy rate however is still lower than that recorded over August last year despite the recent surge in new apartment development in most capitals.

The national vacancy rate for houses over August at 2.2 percent is slightly higher than the 2.1 percent reported over August last year.


[Imported] WP Advertize it Free Strategy ad 10 July 2014 (Desktop #44800)

Sydney’s house market vacancy rate eased slightly over the month to a still tight 1.9 percent, with the Melbourne housing market result falling to just 1.5 percent and down on the 1.7 percent recorded over August last year.

The unit vacancy rate in Sydney was steady over August at 2.3 percent with the Melbourne unit rate falling to 2.4 percent to be well below the 2.9 percent recorded over August 2015.

Brisbane vacancy rates were steady over the month with results for Perth – where vacancies for houses and units fell – indicate that the local market may be levelling off after sharp increases in rates over the past year.

Despite the improvement over the month, the Perth rental market clearly retains the highest vacancy rates for both houses and units of all the capitals with recent downward pressure on rents likely to continue. australia house property map real estate aus state country

By contrast, vacancy rates in Hobart and Canberra remain clearly the lowest of all the capitals with shortages of available homes for rent.

High levels of migration into Sydney and Melbourne and low first home buyer numbers are continuing to keep vacancy rates relatively low despite recent record levels of new dwellings and a strong revival in investor activity.

Rent increases are likely to continue although this will be constrained by the low level of incomes growth generally in the economy.

Want more of this type of information?

Avatar for Property Update


Dr Andrew Wilson is Australia’s leading housing market expert. As senior economist for Fairfax-owned Domain Group, Dr Wilson is one of the nation’s most respected real estate analysts and Australia’s highest profile housing market commentator. Visit his blog at Domain

'Home rental vacancy rates tighten over August' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.



Michael's Daily Insights

Join Michael Yardney's inner circle of daily subscribers.

NOTE: this daily service is a different subscription to our weekly newsletter so...