National rental vacancy rate tightens to 10 year low

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SQM Research has released its June rental report, which recorded the lowest national rental vacancy rate since May 2011 at just 1.7%:

Australian rental vacancy rate

Down everywhere except Melbourne.

The next chart plots the time series at the national level and shows clearly the sharp reduction in the vacancy rate over the past year:

National rental vacancy rate

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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.