From the Media Release:
On a capital city level, perhaps the most interesting result is Perth’s colossal yearly increase in vacancies – falling by 1.0% since August 2012. SQM Research suspects this can be attributed to the downturn in the commodities boom occurring presently, with less employees seeking temporary residence this part of the country.
Canberra has recorded the only notable increase, rising 0.2% during August 2013 and Hobart the only substantial decrease, falling by 0.3% over the same period.
Louis Christopher, Managing Director of SQM Research says, “Although SQM Research has observed a rapid pick up in the housing sales market of late, much of this recovery has so far been investor driven and therefore has not resulted in a mass exodus of renters to become first home buyers/occupiers.
“However, SQM Research expects that as the housing recovery continues, more first home buyers will enter the market. And in any case, supply of new stock will increase as property developers meet buyer demand; whether they are First Home Buyers or investors. So in time, we are expecting vacancy rates to continue rise from here. “
