๐ฉ๐ฎ๐ฐ๐ฎ๐ป๐ฐ๐ ๐ฅ๐ฎ๐๐ฒ๐ ๐ฅ๐ฒ๐บ๐ฎ๐ถ๐ป ๐น๐ผ๐, ๐ฏ๐๐ ๐ฅ๐ถ๐๐ถ๐ป๐ด ๐ถ๐ป ๐๐ผ๐บ๐ฒ ๐๐ถ๐๐ถ๐ฒ๐
Rental vacancy rates are low throughout much of Australia, but three capital city markets have experienced significant shifts over the past year, according to SQM Research.
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Between May 2022 and May 2023, vacancy rates fell by 1.0 percentage point in Melbourne, and rose by 1.1 points in Canberra and Hobart.
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The vacancy rate refers to the share of rental properties that are vacant. As the vacancy rate falls, tenants have less choice and have to fight harder for properties, which puts upward pressure on rents. Conversely, a rising vacancy rate puts downward pressure on rents.
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The market favours tenants when the vacancy rate is above 3%, favours investors when itโs below 2% and is neutral when itโs 2-3%. So, as the chart shows, investors are in control throughout the country, with the exception of Canberra.
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.
