SQM Research released its vacancy rates figures for January which showed a decline from 2.7 per cent to 2.5 per cent in January.
Following the seasonal rise in December, there were significant monthly declines in vacancy rates in Sydney, Canberra, and Darwin (although Darwin's vacancy rate remains way above where it was one year ago).
Sydney's vacancy rate is unchanged over the past year.
The tightest capital city rental market is Hobart, with a vacancy rate of 0.9 per cent.
The elevated vacancy rates in Perth and Darwin have seen median asking rents decline over the year, while rents elsewhere have generally increased.
See more of SQM's thoughts over at Property Update here.