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Vacancy rates fall in August

Vacancy rates fall in August

by Reporter 0 comments

Matthew Sullivan

Investors looking to secure a strong rental return don’t have to look far with the national vacancy rate falling to 1.8 per cent in August.

According to SQM Research, national vacancy rates tightened by 0.1 per cent in August 2011, with a total of 46,923 vacancies nationally.

“Vacancy rates throughout the course of this year have remained very steady,” SQM Research managing director Louis Christopher said.

“To date there is no significant trend of vendors, having failed in selling their properties, offering up for rent instead.”

“While no doubt some vendors are doing this, so far, it’s not a mass event. And so, the rental market remains largely a landlord’s market, for now.”

Canberra remains the nation’s tightest rental market with a vacancy rate of 0.6 per cent – a total of 289 vacancies.

In addition, Sydney, Perth and Darwin all experienced a decline of 0.2 per cent in vacancies, falling to 1.4 per cent, one per cent and 0.9 per cent respectively.

Melbourne and Adelaide experienced the largest yearly increase in vacancies, with both rising by 0.7 per cent over the year to August.

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Vacancy rates fall in August
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