The Aussie capital city where vacancies are climbing and rents are dropping

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Vacancy rates have continued to fall across the nation, with some notable exceptions.

New figures from SQM Research show vacancies fell slightly in August, with a nationwide vacancy rate of 2.3%. The vacancy rate dropped slighly in most capital cities, excluding Adelaide, Brisbane and Darwin where the vacancy rate remained steady.

Year-on-year vacancy rates have continued to climb in Darwin, however, with a 2% jump from the same time last year. Asking rents have also dropped steeply in Darwin. The city has seen a 21.3% decline in asking rents for houses over the last 12 months, and a 17.8% drop for units. Asking rents also fell in Perth, down 8.1% for houses and 5.5% for units.

In contrast, asking prices have posted a strong yearly rise in Hobart. Prices are up 6.7% for houses and 8.3% for units. Asking rents in Adelaide, Melbourne and Sydney have also seen modest rises for the year.

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