Vacancies hit record low
Domain released its latest vacancy rate figures, with vacancies hitting the lowest level on record.
Hobart increased a little over the month, and Perth was steady - everywhere else recorded declines as the first month of open international borders impacted rental markets around the country.
Sydney's vacancy rate of 1.4 per cent is the lowest Domain has ever recorded for the harbour city.
Canberra and Perth also remain at record lows, of 0.5 per cent.
Adelaide, meanwhile - where we have been buying houses in recent times - has the lowest vacancy rate on record for a capital city of just 0.2 per cent, potentially portending large increases in rents for that city.
Source: Domain
Investors are likely to continue driving prices higher in Adelaide, looking at these numbers, with entry prices more affordable than in most other capital cities.
The trend is for further declines ahead as employment hits a record high and immigration picks up.
Source: Domain
The Domain article and details are here.
