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National vacancy rate rises but remains tight

24 May 2016 Jay Garcia

A new report shows that national vacancies are slightly above common seasonal trends expected for this time of year.

A new report shows that national vacancies are slightly above common seasonal trends expected for this time of year.

Figures from SQM Research show an alarming number of vacancies for Perth, while asking rents in the city have fallen considerably.

Weekly rents for Perth’s houses fell 8.4 per cent from April 2015 to April 2016, hitting $463, while units dropped 9.3 per cent to $371 over the same period, and the vacancy rate climbed from 3.0 per cent to 4.6 per cent.

In Darwin, houses dipped 8.4 per cent to $566 and units decreased by 12.5 per cent to $434, while vacancies fell from 3.5 per cent to 3.4 per cent.

Brisbane’s houses decreased by 0.3 per cent to $449 and units rose 1.3 per cent to $372, while the vacancy rate jumped from 2.3 per cent to 2.8 per cent.

In Adelaide, houses increased 0.8 per cent to $370 and units jumped 0.4 per cent to $285, while vacancies rose from 1.7 per cent to 2.0 per cent.

In Melbourne, houses climbed 1.6 per cent to $483 and units rose 4.1 per cent to $378, while vacancies dipped from 2.2 per cent to 2.1 per cent.

Sydney’s houses jumped 4.8 per cent to $722 and units rose 5.0 per cent to $505, while the vacancy rate decreased from 1.8 per cent to 1.7 per cent.

Hobart’s houses rose 7.6 per cent to $350 and units climbed 4.7 per cent to $291, while the vacancy rate dropped from 1.4 per cent to 0.9 per cent.

In Canberra, houses climbed 8.7 per cent to $526 and units rose 4.6 per cent to $400, while the vacancy rate fell from 1.9 per cent to 1.4 per cent.

Across the capital cities, houses rose 1.7 per cent to $545 and units climbed 2.9 per cent to $430, while the national vacancy rate rose from 2.3 per cent to 2.5 per cent.

SQM Research managing director Louis Christopher said the vacancy rate for Perth is at a record high.

“It is suggestive that the housing downturn in Perth has yet to bottom out and that rents, which are already well down from their peaks in 2012, still have further to fall.”

[Related: Vacancies and rents on the rise in most capitals]

 

National vacancy rate rises but remains tight
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