Vacancy rates fall in all but one capital city

By |
Residential vacancies in Australia fell during February, but are still trending higher compared to seasonal trends usually observed at this time of year according to figures released yesterday.

The figures from SQM Research show Australia’s national vacancy rate fell by 0.2% to 2.3% over February, which means it is slightly higher than the 2.2% recorded in February 2015.

Across the individual capital cities, all markets except Hobart saw vacancies fall during February.

Vacancies in the Tasmanian capital remained steady at 0.9%.

Over February, Melbourne saw the biggest fall in vacancies, with its rate down from 2.5% to 2%.

Brisbane, Canberra, Sydney and Darwin all saw their vacancy rates fall by 0.2%, while Adelaide and Perth recorded falls of 0.1%.
 

Source: SQM Research
 
While falls were widespread over February, yearly figures paint a different story, with vacancies currently higher in Adelaide, Perth, Darwin and Brisbane than they were a year ago.

Vacancies are currently lower in Sydney, Melbourne, Canberra and Hobart than they were 12 months ago.

Over the year Perth has seen the largest rise in vacancies, up 1.3%, while Hobart has seen the largest decrease, with vacancies down 0.4% year-on-year.

Head of SQM Research, Louis Christopher, said it appears the trend of vacancies being higher than seasonal norms will continue in the near future.

“Overall, there was a noticeable fall in vacancies for the month driven by Melbourne and Sydney. However, year on year vacancies are still edging up for the country and we think this will still be the trend going forward,” Christopher said.

“The cities and townships most exposed to the commodities downturn are causing this yearly rise. On the flip side Melbourne, Hobart and Canberra are all recording downward trends in vacancies now and this is resulting in upward pressure in rents for these three cities,” He said.
 
 

Can you afford to buy in this suburb? Find out how much you can borrow

Top Suburbs : wentworthville , cardiff south , newtown , mt colah , ropes crossing

go back

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.

Why does  Aussie need your personal information?    How does Aussie keep your information secure?
Aussie is a trade mark of AHL Investments Pty Ltd. Aussie is a partly-owned subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian Credit Licence 234945.
© 2016 AHL Investments Pty Ltd ABN 27 105 265 861 Australian Credit Licence 246786.

 
How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here