The national rental housing vacancy rate remained stable in March amid the COVID-19 epidemic, but some states have reported declines in vacant housing, according to the latest update from SQM Research market.
The vacancy rate at the national level was 2% last month, with the total number of vacancies reaching 67,371. Most states – with the exception of Sydney, Melbourne and Darwin – have registered minor decreases of around 0.1%.
"The slight drop in vacancy rates in most capitals in March was somewhat surprising given the uncertainty surrounding the economy," said Louis Christopher, CEO of SQM Research.
On an annual basis, the vacancy rate during the month was lower. Only Melbourne and Hobart had higher vacancy rates.
Christopher said it is possible that vacancy rates may increase in the coming months, given the impact of the COVID-19 epidemic on economy and the housing market.
"With job losses, a migration freeze and a large expected increase in vacant housing in the short term, we will likely see significant increases in rental vacancy rates as 2020 progresses," said -he declares.
The table below shows the vacancy rates in each capital:
.
Sydney, Melbourne, Brisbane and Hobart all saw declines in rents charged for houses and units during the month.
On the other hand, Perth and Adelaide were the only capitals to record rent increases for houses and units. Perth increased 1.9% for houses and 0.8% for dwellings, while Adelaide recorded an increase of 0.3% for houses and 1.4% for dwellings.
Here is how rents have changed in each capital:
Top suburbs:
sunshine
,
menai
,
lockridge
,
revesby hts
,
chermside
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in a property, it is important to make sure that you not only have the lowest available rate you can get, but
Just fill in a few details here and we will then arrange a local mortgage broker to contact you and determine the features or types of loans that are right for you. Needs. We will even help you with the paperwork. In addition, an appointment is free.
We value your privacy and treat all of your information seriously – you can check
our privacy policy here
