The national residential rental vacancy rate remained steady in July 2019 at 2.3%, according to new data from SQM Research.
There are a total of 76,346 vacant residential properties in the country—up 3,888 dwellings from a year ago, the data showed.
Sydney continues to have the highest vacancy rate in the country at 3.5%, while Melbourne’s vacancy rate remains at 2%, the data showed.
Hobart’s vacancy rate was also stable at 0.5%—the lowest in the country, according to the data.
The vacancy rates in most other cities fell in July, according to Louis Christopher, SQM Research’s managing director.
In Brisbane, the vacancy rate fell 0.1% to 2.4%, while Adelaide recorded a 0.1% drop to 1.1%, according to the data.
Canberra’s vacancy rate also fell 0.2% to 1.1%, the data showed.
The vacancy rates in Darwin and Perth both dropped 0.2% to 2.9% and 3%, respectively, according to the data.
“Perth continues to record a recovery in its rental market, which should eventually feed through into a rise in dwelling prices. After a false dawn, Darwin also appears to be recording tentative signs of a rental recovery,” Christopher said.
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