Rents to rise
Residential rental vacancies fell to 43,844 in February, well down from 71,221 a year earlier, according to SQM Research.
The national residential vacancy rate fell to 1.2 per cent, which is a fresh 16-year low.
Rental vacancies are now falling sharply in Melbourne CBD, to 2.8 per cent, and to a lesser extent in Sydney.
Perhaps walkability will become a more desirable factor as fuel costs soar.
Vacancy rates in Hobart and Adelaide remain exceptionally tight.
Capital city asking rents were up 9.4 per cent over the year.
SQM Research put out its detailed media release here.
