Docklands doom
SQM Research reported national vacancy rate increasing from 2 per cent to 2.1 per cent in March.
It's unusual for rental vacancies to rise in March, the result reflecting the increasing pace of new building and stymied immigration.
It seems that the rush to the regions has now reversed, and a return to the capital cities is underway.
Of the capital cities, Melbourne has by far the highest vacancy rate at 4.4 per cent.
SQM provided an interesting case study to show how asking rents have fallen by nearly 30 per cent in Melbourne's Docklands over the past year.
SQM did report that the worst has passed for CBD landlords with Melbourne and Sydney CBD vacancy rates declining to 8.3 per cent and 6.2 per cent respectively, well down from their peaks.
On the other hand, Brisbane, Adelaide, and Darwin all saw sharp increases in asking rents over the month to April 12, as supply is considerably tighter in those cities.
