Rents up again in May
May is generally a quieter time of year for the rental market, and the national residential vacancy rate ticked up to 1.2 per cent last month, according to SQM Research.
Obviously this still equates to, historically speaking, a tight rental market.
Source: SQM Research
Asking rents, meanwhile, have powered on.
Over the past quarter, capital city asking rents for houses rose +1.3 per cent, to be some +8.2 per cent higher over the year.
For units - a greater share of which are owned by landlords - capital city asking rents rose by a strong +2.2 per cent over the past quarter, to be +6.7 per cent higher over the year.
Source: SQM Research
House asking rents have softened lately in Adelaide, perhaps due to affordability challenges, but have been very strong in Melbourne, Canberra, Darwin, and elsewhere.
Unit asking rents have been variously strong in Sydney, Canberra, Hobart, and Darwin.
As such, with lower asking prices for houses over recent weeks and months, rental yields are in the process of resetting higher, particularly so in Sydney and Melbourne.
---
1. Download our property buying guide
Download our free property buying guide here.
You can also check out a few of our recent property purchases here.
Get in contact with us today if strategic property investment is your thing.
2. Subscribe to our Top 10 Podcasts for Investors
Listen in to our podcasts
The Australian Property Podcast is rapidly becoming one of Australia's biggest business podcasts, now with over 50,000 audio downloads per month, and growing fast.
And our popular Low Rates High Returns Show also remains available on Spotify.
3. Subscribe for my free daily blog
Subscribe for my free daily blog here.
You can also catch up with me daily on Twitter here, where I'm far too active daily and have over 18k followers.
By the way, I'm an 8-times published author on finance, investing, and business, so you can check out some of my books here.
My new book, co-authored with Cate Bakos is available to buy here or on Amazon here - check out our free Buy Right podcast series here.
4. Work with me privately
For a limited time you can book in a free diagnosis call with me here, so book in a call today.
