According to SQM Research, the residential vacancy rate nationwide declined in September, down from 2.1% to 2.1% in September.
Hobart had the lowest vacancy rate (0.6%) and Sydney (3.2%). The rental market in Canberra remained tense as its vacancy rate fell from 1.2% to 1%.
While the past month could be considered a good month for Sydney, SQM Research General Manager Louis Christopher said the city's vacancy rate is expected to increase before the end of the year.
"Perth and Brisbane will likely continue to experience a decline in short- and medium-term employment opportunities due to the low housing completion activity relative to increased underlying demand", he declared.
The table below shows the monthly and annual vacancy rate changes for each capital city:
City
Vacancy Rates
September 2019
Aug. 2019
September 2018
Sydney
3.2%
3.4%
2.8%
Melbourne
2.0%
2.0%
1.7%
Brisbane
2.9%
2.5%
2.3%
Perth
2.7%
2.9%
3.6%
Adelaide
0.9%
1.0%
1.1%
Canberra
1.0%
1.2%
0.6%
Darwin
2.9%
2.9%
3.6%
Hobart
0.6%
0.6%
0.4%
National
2.1%
2.2%
2.1%
Source: SQM Research
Top suburbs:
Homebush
,
Flemington
,
South Brisbane
,
Penrith
,
Marrickville
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