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Vacancy rates fall in seven capital cities

Nick Bendel avatar
Nick Bendel
- 2 min read
Vacancy rates fall in seven capital cities

Perth is still the best place in the country to be a tenant, even though vacancies have fallen significantly over the past year.

Perth had the highest vacancy rate of any capital city in December 2017, at 4.6 per cent, according to SQM Research (see table below).

However, tenants have less bargaining power than a year earlier, when the vacancy rate was 5.5 per cent.

If Perth is the best place to be a tenant, Hobart is the worst. For the third consecutive month, Hobart reported a record-low vacancy rate of 0.3 per cent.

Sydney was the only capital where the vacancy rate increased over the year, rising from 2.3 per cent in December 2016 to 2.6 per cent in December 2017.

Perth, Brisbane, Darwin and Sydney have vacancy rates above the national average, while Hobart, Canberra, Adelaide and Melbourne have below-average rates.

CityDecember 2016November 2017December 2017
Adelaide2.1%1.4%1.5%
Perth5.5%4.5%4.6%
Melbourne2.4%1.8%2.1%
Brisbane4.1%3.4%3.8%
Canberra1.6%1.0%1.3%
Sydney2.3%2.1%2.6%
Darwin3.9%2.8%3.5%
Hobart0.7%0.3%0.3%
Australia2.9%2.2%2.5%

Disclaimer

This article is over two years old, last updated on January 17, 2018. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.

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