Rental market continues to tighten as population ponzi overwhelms construction

Tuesday 14 November 2017

SQM Research has released its rental vacancy series for October, which revealed a 0.1% decline in the national vacancy rate over the month and a 0.2% decline over the year:

Over the year, decreases in vacancies were recorded in Melbourne (-0.1%), Perth (-0.8%), Adelaide (-0.6%), Hobart (-0.2%), Darwin (-0.7%), and Canberra (-0.2%), whereas increases were recorded in Sydney (+0.2%) and there was no change in Brisbane.

Turning to asking rents, the picture remains two-speed, with annual asking rents rising way faster than incomes in Melbourne, Canberra, Hobart, and Adelaide, but falling in Sydney, Brisbane, Perth and Darwin:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.