From the Media Release:
The majority of capital cities either experienced modest rises, or remained the same during May, with Darwin being the only city to experience a decline – falling from 1.1% to 1.0% month on month.
This result reflects a rental market that is continuing to loosen, albeit gradually. However, SQM Research stands by our original prediction that until there is a mass exodus of renters prompted by absorption of stock from the sales side of the property market, we will not see massive increases in vacancy rates.
Louis Christopher, Managing Director of SQM Research says, “The rental market is starting to provide some choices for tenants, Vacancies have increased four straight months now. This is also showing up on our weekly rentals index where cities such as Canberra and Perth have recorded falling rents in recent months.”
This month, SQM Research has also provided the top 10 locations with the tightest vacancy rates:
And the top 10 locations with the highest vacancy rates (dominated by Victoria):
