Residential property rental vacancy rates remain steady
After a period of vacancy rates falling sharply, SQM Research has revealed data from the recent financial year shift, showing that national residential rates remained steady at 1% in July 2022.
The total number of rental vacancies Australia-wide now stands at 36,741 residential properties, slightly down from 37,049 in June.
Sydney and Melbourne vacancy rates fell to 1.5% and 1.6%, however, some outer Sydney regional vacancies rose with the Central Coast and Wollongong recording increased vacancies.
Brisbane recorded an increase in rental vacancy rates to 0.7%. Gold Coast and the Sunshine Coast also recorded increased vacancies, albeit from very tight levels. Canberra rose to 0.9% with many outer ACT regions also recording a sharp rise in rental vacancies. Darwin rose to 0.6%.