Vacancies steady in September
Interesting vacancies figures from SQM Research showing that 5 of the 8 capital cities now have a residential vacancy rate of under 1 per cent.
Perth's vacancy rate continues to plunge, now down to just 0.8 per cent, and fellow resources capital Darwin is following on a very similar trajectory.
In fact, Darwin in the Northern Territory recorded another enormous decline of 0.4 per cent, and Perth is rapidly heading towards a rental crisis.
Vacancies also remain tight in Hobart, Canberra, and increase Adelaide (0.9 per cent).
Brisbane's vacancy rate continued to edge down gradually to 2 per cent, from 2.3 per cent a year earlier.
In Sydney the September vacancy rate was steady at 3½ per cent.
Melbourne is another story entirely, with the vacancy rate leaping to 3.8 per cent or 23,207 vacancies, and continuing to trend sharply higher.
Melbourne's lockdown continues, with apparently little prospect of new COVID-19 cases averaging under 5 per day, which was cited as an arbitrary trigger point for relaxing some of the restrictions.
