By Aus Investment Properties
Stable Vacancy Rates Signal Robust Rental Market
As the first quarter of 2024 closes, Aus Investment Properties is closely monitoring the rental market dynamics, especially in light of the recent data released by SQM Research. This March, the national rental vacancy rate remained stable at 1.0%, matching the previous month and slightly down from last year. This stability indicates a strong and steady demand for rental properties across the country.
Tight Markets in Perth and Adelaide
Particularly noteworthy are the cities of Perth and Adelaide, which have continued to demonstrate some of the tightest rental markets in Australia, each boasting a vacancy rate of just 0.5%. This could be a critical factor for investors considering where to focus their real estate ventures, as lower vacancy rates often suggest a higher demand for rental properties.
Varied Trends Across Major Cities
Meanwhile, Sydney and Melbourne recorded vacancy rates of 1.1%. Although these figures represent a slight increase in vacancies for Melbourne from February, they still reflect a relatively tight market. In contrast, CBD areas such as Sydney, Melbourne, and Canberra saw higher vacancy rates, potentially offering opportunities for tenants seeking properties in these densely populated areas.
Rental Price Movements
On the pricing front, capital city asking rents for units have seen a modest increase of 1.3% over the last month, with a notable 12-month rise of 9.2%. However, rents for houses in these cities slightly declined by 0.1%, indicating a divergence in rental price trends between houses and apartments. Perth, in particular, recorded the fastest rent increase at 2.8%, positioning it as a city of high growth potential for both renters and investors.
What This Means for Investors and Renters
For investors, the current market offers a stable landscape with potential for targeted growth in specific cities that show significant demand and rising rents. Renters might find better deals in cities with increasing vacancy rates, especially in central business districts, as the seasonal trends predict a slight rise in vacancies in the coming cooler months.
At Aus Investment Properties, we remain committed to providing our clients with up-to-date, insightful market analysis to help them make informed decisions. As the market evolves, so does our strategy to serve you better, leveraging detailed analytics and local expertise.
For more information on how these trends might affect your property decisions, or to discuss your property needs, visit our website or contact our team directly. Together, let’s navigate the dynamic landscape of Australia’s property market.
To view our properties please click here: www.ausinvestmentproperties.com.au
Source: SQM Research https://sqmresearch.com.au/uploads/16_04_24_National_Vacancy_Rates_March_2024_Final.pdf
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SQM Research is an investment research house that specialises in providing accurate research and data to financial institutions, investment professionals and investors.
Aus investment Properties has partnered with SQM Research to provide data across our site to assist investors in making an informed decision.
Capital Growth 12 months, measures the increase in a property’s value over the previous 12 months, indicating how much the investment has appreciated in that timeframe.
Capital Growth 10-year annualised, reflects the average annual increase in a property’s value over the last decade, smoothing out short-term fluctuations to show long-term appreciation trends.
Vacancy Rate, indicates the percentage of properties that are currently unoccupied in that postcode, It’s a key indicator for investors to assess the rental demand.
SMSF Property Investing, when investing inside your SMSF there are some restrictions on how you can purchase investment properties. We use the following information to help navigate the SMSF investment property options.
This property is a single-contract property suitable for an SMSF.
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