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Tuesday, 14 April 2020

Vacancy rates down to 2pc

Vacancies stable

The national residential vacancy rate was stable at 2 per cent in March, according to SQM Research.

This represents a slight decline from a year earlier, when the vacancy rate was 2.1 per cent.

Only Melbourne and Hobart had higher vacancy rates than a year earlier. 

Given that properties need to be advertised for 3 weeks before being classified as vacant, there's more likely to be a jump in April as Airbnb operators and other short-term accommodation providers are forced to try more conventional routes for leasing their properties.

The 6-month moving average by capital city is plotted below, not seasonally adjusted:

With more short-term units hitting the market the median asking rental price was down in March.