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Vacancy rates fall across Austr...

Vacancy rates fall across Australia

SQM Research says rental vacancies fell across Australia's capital cities during October.

Investors in Australian property may find that now is a good time to rent as vacancy rates have been on the decline.

According to SQM Research, there was a two per cent drop in vacancy rates across Australia's capital cities during October this year, showing that the rental market could be rising in demand.

Part of the reason for this increase in rents is due to rising house prices making first home buyers wait longer before entering into the property market.

SQM Research managing director Louis Christopher predicts that Sydney is one area where property investors will be able to charge their tenants more, where house prices have risen the most and the vacancy rate now stands at 1.5 per cent.

He said: "If Sydney vacancies remain this low, that will put renewed upward pressure on rents again for next year.”

Brisbane and Darwin were the only capital cities that recorded an increase in rental vacancies according to SQM Research.

Posted by Steve Douglas

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