Vacancy rates in capitals dropped surprisingly in June, with Darwin reporting the largest drop, according to the latest market statistics from SQM Research.
The national vacancy rate for the month fell to 2.2% from 2.5% in May.
Louis Christopher, managing director of SQM Research, said that the sudden drop in vacancy rates was due to activity in the short-term rental segment.
The effects of the COVID-19 epidemic on the tourism industry have led many short-term rental owners to list their properties for long-term rental.
"We believe that the surprise drop in vacancy rates is due to the fact that Airbnb owners are abandoning the longer-term rental market and returning to short-term rental, in particular in light of the July school holidays and the opening of some state borders, "he said.
Read also: Tenants abandoning the city center?
The table below shows the evolution of vacancy rates in each capital of the state:
. and Perth CBD (5.3%).
However, vacancies increased in Brisbane CBD (14%) and in Sydney in Palm Beach (18.7%).
In terms of rental demand, Sydney, Melbourne and Adelaide recorded declines for homes and units during the month.
Christopher said declining rents in some of the capitals indicate that the weak rental market persists.
"In the future, our expectation is that the Australian rental market will remain weak for the duration of 2020 or until the international border reopens and we, as a community, have passed the worse from COVID-19, "he said.
The table below shows the weekly rents requested in each capital:
Top suburbs:
Coburg North
,
fresh water
,
loror park
,
keperra
,
st peters
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