Vacancies tighten
Sydney's vacancy rate ticked down a notch to 3.4 per cent in August, having been as high as 3.6 per cent in December.
Approvals have dropped in half, so the glut will be cleared in time.
The rental vacancies rate fell again in Adelaide to just 1 per cent in August, and there was a further decline for Perth, which is now down to 2.9 per cent.
Some other cities ticked up a bit, but overall the national vacancy rate dropped from 2.3 per cent to 2.2 per cent in the month.
Sydney's rental vacancies declined from 24,869 to 24,465 in August, with most areas seeing a modest decline.
But where are the problem areas?
Here's one, out at Box Hill and Marsden Park, where there has been a lot of generic new housing built, some 40 to 50 kilometres north-west of the City:
There you go, 60 Minutes, you can have that one ;o)
The pipeline and the rate of construction are now falling away fast, leading Bill Evans to forecast an interest rate cut as soon as next month.
But where are the problem areas?
Here's one, out at Box Hill and Marsden Park, where there has been a lot of generic new housing built, some 40 to 50 kilometres north-west of the City:
Source: SQM Research
There you go, 60 Minutes, you can have that one ;o)
The pipeline and the rate of construction are now falling away fast, leading Bill Evans to forecast an interest rate cut as soon as next month.
The Reserve Bank released its Minutes today which explicitly mentioned that a lower unemployment rate could be sustained, and that policy would be eased if required.
