Australia’s Residential Vacancy Rate Increases to 1.2%

Australia’s residential vacancy rates increased slightly last month, for the third month in a row, according to SQM Research's latest report. Canberra had the highest vacancy rate (2.0%) while Perth and Adelaide had the lowest (0.60%).

⚫ What are residential vacancy rates?

Vacancy rates are the percentage of residential properties (apartments and houses) that have not been rented (i.e., are vacant). They typically range from 2% - 4% by location with 3% being a ‘normal’ rate.

⚫ What does it mean?

Vacancy rates are an indicator of demand and supply. The lower the vacancy rate, the tighter the rental market and the higher demand there is for rental properties. This also generally correlates to the demand for developers to build new stock, and for investors to purchase investment properties.