๐ฉ๐ฎ๐ฐ๐ฎ๐ป๐ฐ๐ ๐ฅ๐ฎ๐๐ฒ ๐ฅ๐ถ๐๐ฒ๐ ๐๐ผ ๐ญ.๐ฏ%
The national vacancy rate remains extremely low, but moved slightly higher in June, according to SQM Research.
Over the past six months, the vacancy rate has gradually increased:
* Jan = 1.0%
* Feb = 1.0%
* Mar = 1.1%
* Apr = 1.2%
* May = 1.2%
* Jun = 1.3% (see chart)
When the vacancy rate (which refers to the share of rental properties that are unoccupied) is below 2%, the market favours property investors, because itโs hard for tenants to find accommodation. As a result, rents tend to rise.
Between the June quarters of 2022 and 2023, the median house rent jumped 11.5% across the capital cities, according to Domain.
If the vacancy rate continues increasing, that will take pressure out of the rental market.
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 you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
