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Cotality’s September housing market results are out: the nation’s rental market saw a solid rise in the vacancy rate to 2%, up from the record low of 1.5% recorded in February 2026 and the highest level since January 2025.
The monthly pace of rental growth eased to 0.3% in seasonally adjusted terms, the smallest monthly rise since May 2025. This took the annual change in national rents to 5.5%, the slowest pace since January 2026.
Cotality’s weekly market indicators report also shows a marked increase in the number of rental listings across the combined capital cities over the past 12 months, which supports the rise in the 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.
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