How did the rental market fare in August?

By Gerv Tacadena | 18 Sep 2019

Australia's residential rental market reported a marginal decline in vacancy rates and a slight fall in asking rents in August, figures from SQM Research show.

The overall vacancy rate declined to 2.2% last month, down from 2.3% in July. The total number of vacancies Australia-wide is now at 75,757 vacant residential properties, a decrease of 589 over the month but up 5,310 dwellings over the past 12 months.

Sydney recorded the highest vacancy rate at 3.4%, while Hobart reported the lowest at 0.6%.

Also read: Housing Affordability Up, Rental Affordability Down

"Residential property rental vacancy rates remained largely steady for the month of August with perhaps the exception of Perth, which continues to record a recovering rental market. While Sydney did record a slight decline, our expectation is the Sydney rental market will still fall from here," SQM Research CEO Louis Christopher said.

Sydney's vacancy rate is expected to peak at 4% by the end of this year.

In terms of asking rents, there was a slight decline of 0.4% for houses. Asking rents for units remained steady.

Brisbane remained the only capital city to record increases in weekly rents over the month for both houses (up 0.6%) and units (up 0.9%).

The table below shows how each state performed in terms of vacancy rates and asking rents:

Top Suburbs : balga , reservoir , cardiff south , homebush , campsie


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 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 an appointment is free.

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