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Vacancy rates fall to just 0.5% in Hobart
Hobart is the ultimate landlord’s market, while Perth is the best capital city to be a tenant, new research has revealed.
Hobart had Australia’s tightest vacancy rate during July, at just 0.5 per cent, according to SQM Research.
That is even tighter than the year before, when the vacancy rate was an already low 0.8 per cent.
It’s a different story in Perth, where 4.9 per cent of investment properties lay vacant during July.
Still, life has become a little harder for Perth tenants – the vacancy rate was 5.0 per cent the month before and 5.2 per cent the year before.
The capitals that experienced the biggest movement in their vacancy rate over the past 12 months were Melbourne and Brisbane.
Melbourne’s vacancy rate fell from 2.1 per cent to 1.7 per cent, while Brisbane’s rose from 2.9 per cent to 3.3 per cent.
| Region | July 2016 | June 2017 | July 2017 |
|---|---|---|---|
| Hobart | 0.8% | 0.7% | 0.5% |
| Canberra | 1.3% | 1.2% | 1.2% |
| Melbourne | 2.1% | 1.7% | 1.7% |
| Adelaide | 2.1% | 1.9% | 1.8% |
| Sydney | 1.9% | 2.1% | 2.0% |
| Darwin | 3.1% | 3.2% | 2.9% |
| Brisbane | 2.9% | 3.3% | 3.3% |
| Perth | 5.2% | 5.0% | 4.9% |
| National | 2.5% | 2.4% | 2.3% |
Disclaimer
This article is over two years old, last updated on August 18, 2017. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
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