Rentals hit emergency lows
It had seemed that rental vacancies were levelling out a bit, although there's always a seasonal element to rental markets in Australia.
However, rental vacancies dropped again in September at the national level, driven by renewed declines in Sydney and Melbourne.
Source: SQM Research
Moreover, rental vacancies have continued to drop over the first 3 weeks of October, and are now at all-time lows.
Louis Christopher from SQM Research reported:
Source: SQM Research
Capital city asking rents were up +16 per cent over the year, and don't appear to have slowed.
The fastest growth in rents was seen in Sydney, and for units.
The full media release is here.
