Rental squeeze
SQM Research reported that the national rental vacancy rate fell back to just 1.2 per cent in July.
This aligns with what some other data providers have found, suggesting that rental price inflation is about to re-accelerate.
Sydney's rental vacancy rate fell to 1½ per cent (down from 1.7 per cent a year ago).
Rental vacancy rates are tracking below 1 per cent in no fewer than 5 of Australia's capital cities.
The only city with a notably softening rental vacancy rate was Melbourne, at 1.8 per cent (up from 1.6 per cent a year earlier).
Rents have increased practically everywhere, except perhaps for houses in Canberra, where asking rents have been broadly flat over the past year.
Capital city asking rents for houses were 5 per cent higher over the year, with a 3½ per cent increase for units.
It looks like the rental market is set to remain very tight into spring.
RBA cuts rates
In other news, the Reserve Bank of Australia cut interest rates as expected by 25 basis points to 3.60 per cent, making for a cumulative 75 basis points of easing in this cycle to date.
Louis Christopher of SQM Research sees the housing cycle as being likely to pick up speed from here.
I must confess to having given up on the presser given the oblique nature of several of the questions, so to be honest I'm not best placed to comment on the overall message.
In any event, market pricing apparently wasn't much moved with around 35 basis points of further easing priced in for the remainder of the calendar year.
---
1. Download our property buying guide
Download our free property buying guide here.
You can also check out a few of our recent property purchases here.
Get in contact with us today if strategic property investment is your thing.
2. Subscribe to our Top 10 Podcasts for Investors
Listen in to our podcasts
The Australian Property Podcast is rapidly becoming one of Australia's biggest business podcasts, now with well over 50,000 audio downloads per month, and growing fast.
And our popular Low Rates High Returns Show also remains available on Spotify.
3. Subscribe for my free daily blog
Subscribe for my free daily blog with more than 4 million hits here.
You can also catch up with me daily on Twitter here, where I'm far too active daily and have over 15,200 followers.
By the way, I'm an 8-times published author on finance, investing, and business, so you can check out some of my books here.
My new book, co-authored with Cate Bakos is available to buy here or on Amazon here - check out our free Buy Right podcast series here.
4. Work with me privately
For a limited time you can book in a free diagnosis call with me here, so book in a call today.
