Vacancy Rates Continue to Rise in Perth & Darwin: SQM Research

Figures released by

SQM Research this week have revealed the number of residential vacancies has overall edged down across the nation. March figures show a vacancy rate of 2.1% based on 64,000 vacancies, down from 2.2% in February. These falls were recorded in most capital cities except Darwin and Perth where vacancy rates continue to rise.

The highest fall was recorded in Melbourne with a monthly change of 0.2 percentage points from February. Over the year, vacancy rates in Melbourne have remained the same at a steady 2.1%. Modest falls were also posted in Sydney and Adelaide.

Asking Rents

SQM Research has also revealed the falling asking rents in Perth, Canberra, and Darwin, which has recorded a fall in asking rents of 13.7% for houses and 4.7% for units for the past 12 months.

Managing Director of SQM Research Louis Christopher said, "[tweet_dis]The national rental market continues to slow[/tweet_dis]. It is coming up in our vacancy series and in our asking rents which are now rising at a slower rate than general inflation.""With the east coast market still been driven upwards, largely by investor demand, it does make me wonder if investors are aware that it is increasingly a tenants market out there," Mr Christopher said.