๐ฅ๐ฒ๐ป๐๐ฎ๐น ๐๐ผ๐ป๐ฑ๐ถ๐๐ถ๐ผ๐ป๐ ๐ฅ๐ฎ๐ป๐ด๐ฒ ๐ณ๐ฟ๐ผ๐บ ๐๐ถ๐ด๐ต๐ ๐๐ผ ๐จ๐น๐๐ฟ๐ฎ-๐๐ถ๐ด๐ต๐
Vacancy rates, which measure the share of untenanted rental properties, are at very low levels throughout the country, which is good news for property investors but challenging for tenants.
In the capital cities, vacancy rates range from 0.65% in Adelaide to 1.80% in Darwin, according to PropTrack. Anything under 2% is considered a landlord's market.
Senior data analyst Karen Dellow said one way to reduce pressure on the rental market would be to promote the development of build-to-rent properties, but that โbuilding enough of these properties will take many years to affect rental stock levels significantlyโ.
A faster way would be to increase the number of investors in the market, "however, in recent years, they have been selling up", due to higher interest rates and fewer financial incentives.
โOnly when more rental properties are available will vacancy rates increase significantly. Until then, renters must continue to compete with more potential renters for fewer properties,โ she said.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge.
Weโll take the time to get to know you and your unique situation and speak in a language
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Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
