The rental market is looking even better for investors, with national vacancy rates falling in August.
The latest figures from SQM Research have revealed that residential vacancies have dropped by 0.1%, to a national rate of 1.8% - a total of 46,923 vacancies.
Canberra remains the capital city with the tightest vacancy rate, falling by 0.1% to 0.6% during August. Sydney also saw a decline in vacancies of 0.2% to 1.4% after rising to 1.6% between June and July. Melbourne has again recorded the highest vacancy rate at 2.8%, with no change from the previous month.
“Vacancy rates throughout the course of the year have remained very steady,” notes managing director of SQM Research Louis Christopher. “To date there is no significant trend of vendors, having failed in selling their properties, offering up for rent instead. While no doubt some vendors are doing this, so far, it’s not a mass event.”
A national figure of 1.8% represents a positive outlook for property investors, which SQM believes will continue until the housing market sees a shift in buyer interest.
“The rental market remains largely a landlord’s market, for now,” says Christopher.
Find out how to avoid tenants from hell here
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out