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Vacancy rates fall in seven capital cities
Perth is still the best place in the country to be a tenant, even though vacancies have fallen significantly over the past year.
Perth had the highest vacancy rate of any capital city in December 2017, at 4.6 per cent, according to SQM Research (see table below).
However, tenants have less bargaining power than a year earlier, when the vacancy rate was 5.5 per cent.
If Perth is the best place to be a tenant, Hobart is the worst. For the third consecutive month, Hobart reported a record-low vacancy rate of 0.3 per cent.
Sydney was the only capital where the vacancy rate increased over the year, rising from 2.3 per cent in December 2016 to 2.6 per cent in December 2017.
Perth, Brisbane, Darwin and Sydney have vacancy rates above the national average, while Hobart, Canberra, Adelaide and Melbourne have below-average rates.
| City | December 2016 | November 2017 | December 2017 |
|---|---|---|---|
| Adelaide | 2.1% | 1.4% | 1.5% |
| Perth | 5.5% | 4.5% | 4.6% |
| Melbourne | 2.4% | 1.8% | 2.1% |
| Brisbane | 4.1% | 3.4% | 3.8% |
| Canberra | 1.6% | 1.0% | 1.3% |
| Sydney | 2.3% | 2.1% | 2.6% |
| Darwin | 3.9% | 2.8% | 3.5% |
| Hobart | 0.7% | 0.3% | 0.3% |
| Australia | 2.9% | 2.2% | 2.5% |
Disclaimer
This article is over two years old, last updated on January 17, 2018. 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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