Melbourne's vacancy rate has hit 'equilibrium' as national vacancies edged up slightly in September.
New data from SQM Research shows the national vacancy rate climbed 0.1% during the month to 1.9%. All capital cities apart from Perth saw a rise in vacancies, with Melbourne leading the way. The vacancy rate in Melbourne has now reached 3%, a level SQM has claimed is "equilibrium" for the city.
The company pointed out that the national vacancy rate has remained fairly stable for several consecutive months, and said this could be an indirect result of a lack of buyer interest in the housing market. SQM Research managing director Louis Christopher said he expected the national vacancy rate to remain stable.
"Vacancy rates nationwide have been staying in a fixed range for a long time now and I do not anticipate a move one way or the other for the foreseeable future.
“Melbourne is the one exception with vacancy rates now at 3%. It is very possible we will see Melbourne vacancies continue to rise from here as there is, even at this point in time, new stock still just being completed now," Christopher said.
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 with your investment property
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 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 and appointment is free.
We value your privacy and treat all your information seriously - you can check out