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๐—ฉ๐—ฎ๐—ฐ๐—ฎ๐—ป๐—ฐ๐˜† ๐—ฅ๐—ฎ๐˜๐—ฒ ๐—™๐—ฎ๐—น๐—น๐˜€ ๐˜๐—ผ ๐Ÿญ.๐Ÿฎ%

The rental market has tightened even further, based on new data from SQM Research.

Between July and August, the national vacancy rate (which measures the share of empty rental properties) fell from 1.3% to 1.2%.

As the table shows vacancy rates fell in six capital cities and held steady in the other two.

"Over the first half of 2023, there was a mini reprieve for tenants due to a modest lift in rental vacancy rates, especially for our regional townships. Tenants increasingly sharing accommodation together somewhat assisted in the easing," SQM managing director Louis Christopher said.

"However, in more recent months, the rental market has tightened once again. This renewed tightening most likely was caused by ongoing and rapid increases in our population plus a decrease in new dwelling completions compared to 2022."

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