SQM Research have released data revealing the vacancy rate Australia-wide increased by 0.2 of a percentage point to 2.5 per cent in December 2018, which Louis Christopher, managing director of SQM Research said was due to seasonality.
Hobart and Adelaide recorded stable vacancy rates, holding steady at 0.4 of a percentage point and 3.4 per cent respectively.
All other capital city recorded a vacancy rate rise, with Darwin recording the largest vacancy rate of 4.3 per cent, up by 0.3 of a percentage point.
Sydney experienced 3.6 per cent, Brisbane 3.2 per cent, Melbourne at 2.2 per cent, and Adelaide and Canberra at both 1.3 per cent.
Mr Christopher said that despite Hobart’s tight rental conditions,
rents in Tasmania’s capital have declined over the last month for both houses
Hobart was the only capital city to record both house and unit decline, recording a decline of 1.2 per cent for house rents to $421.20 per week and 2.6 per cent for unit rents to $341.40 per week.
Sydney house rents were the only other declining rent, dropping 0.4 of a percentage point to $705.50 per week. Meanwhile, unit rents were up by 0.4 of a percentage point to $508.70 per week.
§ Nationally, the vacancy rate rose to 2.5% in December from 2.3% in November.
§ Darwin has the highest vacancy rate at 4.3%, followed by Sydney which rose to 3.6%.
§ Hobart continues to record the lowest vacancy rate of 0.4% with no change from November.
§ Melbourne’s vacancy rate rose to 2.2% in December from 1.9% in November.
§ Perth’s rental market continues to improve with the vacancy rate remaining steady at 3.4%, from November and well down from 4.6% a year ago when it had the highest vacancy rate.
§ Capital city asking rents
for Houses rose 0.7% over the month to 12 January 2019 to
§ Capital city asking rents for Units also rose by 0.7% to $439 a week.