Rental vacancy rates are trending lower again, after a bit of pause.
Here's the 6-month trend.
SQM Research reported a monthly drop in October in Sydney, Brisbane, Adelaide, Canberra, and Hobart, as well as most regional areas, taking the national vacancy rate down to just 1 per cent.
Source: SQM Research
This is a significant decline, and represents an ongoing national rental crisis, reported SQM:
Rents continued to rise in October, as a result, and are up by 15-16 per cent over the past year across the capital cities.
Louis Christopher of SQM reports that with high levels of population growth rents and only around 153,000 dwellings likely to be built next year (before demolitions), rents are likely to continue to rise at a 10 to 15 per cent pace.
SQM's media release can be found here.
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