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Vacancy rates tight in Hobart and Sydney, as rents fall in Darwin

Vacancy rates tight in Hobart and Sydney, as rents fall in Darwin

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New figures showed that vacancies remained tight during September 2015, with the national rate at 2.3 per cent based on 70,037 vacancies across the country.

A new report from SQM Research showed every capital city except for Darwin and Perth had a vacancy rate below 3 per cent, which SQM Research classifies as ‘tight’.

Hobart had the country’s tightest rental conditions, with vacancies falling from 1.4 per cent in September 2015 to 1 per cent in September 2015.

The next tightest market was Sydney, where vacancy remained unchanged at 1.7 per cent over the same period.

Adelaide’s vacancy rate rose from 1.5 per cent to 1.9 per cent, while Melbourne’s vacancy rate fell from 2.5 per cent to 2.2 per cent.

Canberra’s vacancy rate rose from 2.1 per cent to 2.2 per cent.

In Brisbane, vacancies rose from 2.2 per cent to 2.6 per cent.

Darwin’s vacancy jumped from 1.8 per cent to 3.3 per cent, and Perth’s vacancy rate climbed from 2.5 per cent to 3.7 per cent.

Meanwhile, Sydney remains the most expensive city for renting. In the year to 20 October, rent for houses rose 2.8 per cent to $692 and units rose 2.9 per cent to $489.

In Darwin, rent for houses fell 18.8 per cent to $572 and units dropped 15.1 per cent to $451.

Rent for Perth houses fell 7.5 per cent to $479 and units dropped 7.2 per cent $384.

In Melbourne, rent for houses rose 5 per cent to $477 and units climbed 1 per cent to $359.

Canberra’s weekly rent for houses rose 0.4 per cent to $475 and units rose 0.7 per cent to $375.

Rent for Brisbane houses rose 1.1 per cent to $446 and units climbed 0.3 per cent $369.

In Adelaide, rent for houses rose 1 per cent to $362 and units jumped 0.8 per cent to $280.

Rent for Hobart houses climbed 5.1 per cent to $332 and units rose 17.6 per cent to $292.

The national average rent for houses climbed 0.2 per cent to $411, while units dropped 0.9 per cent to $334.

[Related: Favourable tenant conditions in most capital cities]

 

Vacancy rates tight in Hobart and Sydney, as rents fall in Darwin
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