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SQM Research has released rental vacancy data for November, which showed minimal movement over the month and a 0.1% decline year-on-year:
In most capital cities the vacancy rate remained stable over the month except for Sydney which saw a minor decrease from 3.6% in October to 3.5% in November. Brisbane also recorded a decrease from 2.0% in October to 1.8% in November.
Melbourne’s vacancy rate remained at 4.4% in November and is the highest vacancy rate in the nation. This time last year, Melbourne’s vacancy rate was low at 2.2%. Hobart’s vacancy rate remains the lowest in the nation at 0.6%.
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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.
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