Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

rpm logo latest

Seasonal spike in vacancies

By Staff Reporter
17 December 2014 | 1 minute read

Figures released this week reveal an increase in residential vacancies nationwide recorded during November.

Advertisement
Advertisement

According to SQM Research, the national vacancy rate now sits at 2.2 per cent, with 65,777 vacancies – a rise from 2.1 per cent in October. 

SQM said vacancies are largely following seasonal trends for this time of year, when more rentals are available for a variety of reasons.

“The most predominant of these factors is that as university sessions finish for the year, many students vacate their rental accommodation, as it is no longer needed over the longer summer break,” said a spokesperson for SQM.

“Perth and Darwin have continued to record alarming increases in vacancies, whilst many of the other capital cities have remained stable year-on-year. However, Hobart and Melbourne have recorded yearly declines.” 

The research house attributed falls in Hobart to a healthier local economy, being buoyed by a spike in tourism as a result of the lower Australian dollar.

SQM Research managing director Louis Christopher said the declines in Melbourne have been a little more difficult to assess.

“This may be a result of a brief lull in construction activity, or possible recent surge in its local population.”

“On a year-on-year basis, we are seeing rises in Darwin and Perth. The reasons for the rises in Darwin and Perth are pretty clear ... it is related to the ongoing mining downturn, causing a lot of loss of employment, particularly temporary/contract jobs.” 

Seasonal spike in vacancies
HouseGraph
lawyersweekly logo

ABOUT THE AUTHOR


Listen to other installment of the Real Estate Business Podcast

 

Do you have an industry update?

top suburbs

12 month growth
Queenton
69.76%
Flying Fish Point
69.61%
Point Piper
69.17%
Glenelg South
69.02%
Pretty Beach
69.01%
Bar Beach
68.9%
Northampton
68.7%
Kembla Grange
66.91%
Gnarabup
66.67%
Boomerang Beach
66.67%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.