Australia’s vacancy rates record first rise in 2022
2022-05-17
Asking rents in Australia rise again by another 1.4%, based on data from SQM Research.
The latest data revealed national residential property rental vacancy rates rose to 1.1% in April 2022, from 1% in the month of March.
The total number of rental vacancies Australia-wide now stands at 39,616 residential properties, up from 36,868 in March.
Sydney, Melbourne and Brisbane vacancy rates remained stable at 1.6%, 1.9% and 0.7%.
In the smaller capital cities, Perth, Adelaide, Canberra, Darwin and Hobart, rental conditions eased somewhat with vacancy rates increasing in each respective city; albeit conditions remained tight.
Vacancy rates rose in the Melbourne CBD to 2.9% from 2.4% and rose in the Sydney CBD to 3.5% from 3.4%.
While some regions recorded a slight lift in vacancies, rental conditions remain tight with the average regional rental vacancy rate remaining well below 1%.
Source: SQM Research, 16th May 2022
Asking Rents
Over the past month to 12 May 2022, the capital city asking rents rose by another 1.4% with the 12-month rise standing at 13.8%.
Capital city house rents are recording 12-month increases of 15.3%, while unit rents have risen by 13.1%.
Rental conditions slightly improved for tenants over April and our weekly rental listings for May suggest another slight easing.
The latest data revealed national residential property rental vacancy rates rose to 1.1% in April 2022, from 1% in the month of March.
The total number of rental vacancies Australia-wide now stands at 39,616 residential properties, up from 36,868 in March.
Sydney, Melbourne and Brisbane vacancy rates remained stable at 1.6%, 1.9% and 0.7%.
In the smaller capital cities, Perth, Adelaide, Canberra, Darwin and Hobart, rental conditions eased somewhat with vacancy rates increasing in each respective city; albeit conditions remained tight.
Vacancy rates rose in the Melbourne CBD to 2.9% from 2.4% and rose in the Sydney CBD to 3.5% from 3.4%.
While some regions recorded a slight lift in vacancies, rental conditions remain tight with the average regional rental vacancy rate remaining well below 1%.
Source: SQM Research, 16th May 2022
Asking Rents
Over the past month to 12 May 2022, the capital city asking rents rose by another 1.4% with the 12-month rise standing at 13.8%.
Capital city house rents are recording 12-month increases of 15.3%, while unit rents have risen by 13.1%.
Rental conditions slightly improved for tenants over April and our weekly rental listings for May suggest another slight easing.
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