Rentals tighten further
Rental vacancies fell again to 1.7 per cent in June according to SQM Research, well down from 2.2 per cent a year earlier.
This equates to 60,457 vacancies, down from 77,132 in June last year (and a far cry from more than 100,000 rental vacancies over the 2020 Xmas period).
Hobart and Darwin are extremely tight again, and Adelaide is heading in that direction.
Some regional markets are now recording modest increases in vacancies.
Nationally asking rents surged by more than 15 per cent year-on-year for houses, driven by a raft of regional cities, Brisbane, Perth, Canberra, Hobart, and Darwin.
Asking rents for units were up 6.6 per cent over the year nationally.
Rents are also now beginning to rise in Sydney and Melbourne, which may have some implications for inflation down the track.
CBD vacancy rates in Sydney and Melbourne have returned towards their longer run levels, at at 5.6 per cent and 5.8 per cent respectively reported SQM Research's Louis Christopher.
SQM reported that we have probably now seen the high point in regional occupancy, with some blessed relief in sight for regional renters.
Overall, though, rental markets have continued to tighten.
