National residential vacancy rate dipped in September, down to 2.1% from 2.2% in August, according to SQM Research.
Hobart recorded the lowest vacancy rate at 0.6%, while Sydney registered the highest at 3.2%. Canberra's rental market remained tight, with its vacancy rate falling from 1.2% to 1%.
While the past month could be considered a good month for Sydney, SQM Research managing director Louis Christopher said the city's vacancy rate is expected to rise before the year ends.
"Perth and Brisbane are likely to continue to record falls in vacancies over the short to medium term due to current low dwelling completion activity versus increased underlying demand," he said.
The table below shows the monthly and annual changes to vacancy rates in each capital city:
City |
Vacancy Rate |
||
September 2019 |
August 2019 |
September 2018 |
|
|
Sydney |
3.2% |
3.4% |
2.8% |
|
Melbourne |
2.0% |
2.0% |
1.7% |
|
Brisbane |
2.9% |
2.5% |
2.3% |
|
Perth |
2.7 % |
2.9% |
3.6% |
|
Adelaide |
0.9% |
1.0% |
1.1% |
|
Canberra |
1.0% |
1.2% |
0.6% |
|
Darwin |
2.9% |
2.9% |
3.6% |
|
Hobart |
0.6% |
0.6% |
0.4% |
|
National |
2.1% |
2.2% |
2.1% |
|
Source: SQM Research |
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