There was a slight increase in Australia’s residential vacancy rate over June. The national vacancy rate is higher that is was last year. Will it have a serious impact on the city’s rental market?
SQM Research have revealed that the national vacancy rate was recorded at 2.5% over June, a 0.1% increase from May.
Perth’s vacancy rate now is the highest vacancy rate on record for the city. There is a continuous slump in Perth rental market and monthly increase is a driving force behind. This is the largest fall in Perth rental rates for residential properties. It is a great opportunity for those wanting to find a rental home. Vacancy rate is lifting, rent is somewhat decreasing, a much easier in finding a house for rent. Although, Perth has a largest increase over June but it wasn’t alone. An increase in vacancy rate in Melbourne and Sydney has been showed. Increase of interest rate may possibly help the rental market to recover.