New vacancy rate data shows a rental market that is "excessively tight", with vacancies dipping slightly in October.
SQM Research figures have indicated vacancies fell 0.1% in October to 1.8%, and research firms has said the rental market is extremely tight "on a grand scale". Vacancies have remained around or below 2% for "quite a few months consecutively", SQM said.
SQM Research managing director Louis Christopher said the rental market was unlikely to improve in the near future.
"For the meantime, we do not see any light at the end of the tunnel where the rental market is concerned. The trends remain the same with no change in sight," he said.
Perth and Canberra proved to be the nation's tightest rental markets in October. Canberra held steady at 0.7%, while vacancies in Perth fell 0.2% to match Canberra. Melbourne led capital cities in vacancies, with a rate of 3%.
Go to our Free Reports section to find out all about Perth and Canberra suburbs!
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
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