Melbourne’s rental vacancy rate ballooned by 20% in August, according to new data from Domain:
New data from Domain has laid bare the impact of the stage four lockdown on the rental market, revealing the portion of available, empty rental properties is up by a whopping 140.7 per cent compared to the same time last year.
Melbourne’s vacancy rate, which represents the portion of available, empty rental properties relative to the total stock of rental property, hit 3.8 per cent in August – a significant increase compared to its 1.6 per cent vacancy rate in August 2019…
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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.
