Ensure you never miss an issue of the
real estate business bulletin
Vacancy rates rise for first time in four months

Vacancy rates rise for first time in four months

by Reporter 0 comments

The level of residential rental vacancies rose during November, according to SQM Research.

The data company’s figures reveal that the vacancy rate now sits at 2.2 per cent across a total of 62,885 vacancies nationwide.

The rise breaks four consecutive monthly declines in residential vacancies on a national level and can be attributed to seasonality with a large proportion of university students vacating their rental accommodation as the study year draws to a close.

A year-on-year comparison reveals a 0.3 per cent increase in national vacancies, which shows the rental market has eased substantially since last November.

Managing director of SQM Research Louis Christopher said: “The national rental market has recorded a rise in vacancies for November, which is normal for this time of year.

“It is also likely the December result will record a rise. I note, though, Brisbane now appears to be recording a clear upward trend in vacancies and of particular interest is what is happening with the Brisbane CBD, where our numbers show vacancy rates are now at 4.7 per cent and rising quickly.

“On the other hand, Hobart is now recording a clear trend of declining vacancies, with the vacancy rate in that city now standing at just 1.4 per cent after continuous declines for the past six months. In all this, investors should be fully aware of rental market conditions before making decisions in the housing market.”

Vacancy rates rise for first time in four months
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

With a combined sales volume of over $14 billion in 2017, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
When the end goal isn’t the most important part

Carla Fetter lives and breathes the real estate industry, but for her it has always been about building relationships. ...

View all podcasts

What will the real estate office of the future look like?

Traditional shopfront with prominent physical branding
Virtual shopfront with prominent digital branding, support office less prominent
Virtual shopfront with prominent digital branding, no support office, strong work from home capability
Digital DIY model/ traditional shopfront blend
Digital DIY model only
None of the above
Do you have an industry update?