The rental markets in Sydney, Brisbane and Perth have significantly changed over the past year, according to new data from SQM Research.
Sydney’s vacancy rate experienced a big increase over the year, jumping from 1.9 per cent in July 2017 to 2.8 per cent in July 2018 (see table below).
That is the city’s highest vacancy rate since SQM started collecting this data in 2005.
Brisbane’s vacancy rate fell over the year from 3.6 per cent to 2.9 per cent – largely because of five straight monthly declines in the first half of 2018.
In Perth, the vacancy rate dropped from 5.2 per cent to 4.0 per cent, which SQM said was a sign the oversupply of rental properties is easing.
Looking at the other capitals, Darwin is definitely a tenants’ market, with the vacancy rate at a high 3.4 per cent.
However, Hobart (0.7 per cent), Canberra (0.8 per cent), Adelaide (1.3 per cent) and Melbourne (1.6 per cent) are landlords’ markets.
| Region | July 2017 | July 2018 |
|---|---|---|
| Sydney | 1.9% | 2.8% |
| Melbourne | 1.6% | 1.6% |
| Brisbane | 3.6% | 2.9% |
| Perth | 5.2% | 4.0% |
| Adelaide | 1.8% | 1.3% |
| Hobart | 0.5% | 0.7% |
| Canberra | 1.1% | 0.8% |
| Darwin | 3.0% | 3.4% |
| Australia | 2.4% | 2.2% |
