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Wednesday 16 December 2020

Vacancy rates stable at 2.1pc in November

Steady as she goes

National vacancy rates were stable at 75,947 (2.1 per cent) in November, down from 2.2 per cent (72,879) a year earlier, according to SQM Research's latest figures. 

Sydney's vacancy rate eased down a little from 3.6 per cent to 3.5 per cent, but Melbourne vacancies remained very high in November at 4.4 per cent. 

The vacancies continue to most acute the in CBDs of the two largest capitals due to the absence of tourists and international students, although in Sydney the CBD vacancy rate has dropped from 16.2 per cent to 9.5 per cent since May. 

Brisbane's vacancy rate has continued to decline from 2.5 per cent a year earlier to 1.8 per cent. 

All other capital cities have tight vacancy rates of under 1 per cent. 

You can click to expand the chart for trend figures: 

A surprise shift north this year has seen Darwin's vacancy rate drop to just 0.7 per cent in November, while Perth isn't far behind with its freshly thriving economy and a vacancy rate of just 0.9 per cent.