National Vacancy Rates - September 2024
What it
Means for Property Investors
In
September 2024, Australia's rental vacancy rates slightly dropped to 1.2%,
reflecting a tight rental market with increased demand across various regions.
According to the latest data from SQM Research, the total number of rental
vacancies decreased to 37,932, down from 39,665 in August.
This shift was
largely driven by areas such as Perth, Canberra, Hobart, and regional
Australia.
As an
investor, these trends highlight the ongoing opportunities within the
Australian property market. Here’s what the latest vacancy data reveals:
Key Insights into National Vacancy Rates:
- Perth continues to demonstrate
strong demand, with its vacancy rate dropping to just 0.6%.
- Canberra recorded the highest vacancy
rate at 2.0%, though it experienced a slight decrease compared to previous
months.
- Adelaide remains one of the most
sought-after cities for renters, maintaining a low vacancy rate of 0.6%.
- Sydney and Melbourne, the two largest capitals, saw
relatively stable vacancy rates at 1.6% and 1.7%, respectively.
The Rental Market’s Effect on Investors:
With a
national vacancy rate of just 1.2%, this data underscores a severe rental
shortage that has persisted for several years. Louis Christopher, Managing
Director of SQM Research, emphasised that the rental crisis is unlikely to ease
in the near future due to strong migration growth and a lack
of sufficient new
housing supply.
For
investors, this continued demand presents a lucrative opportunity for rental
yield and capital growth. While some cities like Melbourne are seeing slight
softening in rental demand, areas such as Perth
and Brisbane remain strong performers,
with rental prices increasing by 1.7% and 1.5%,
respectively, over the past
month.
Conclusion: Navigating the Tight Rental Market
As
Australia faces ongoing challenges with housing supply and rapid population
growth, property investors have a unique opportunity to capitalise on the high
demand for rental properties. High-growth areas like Perth, Brisbane, and
regional Australia present solid opportunities for those
seeking to maximise
rental yields in the current market conditions.
If you’re looking to expand your property investment
portfolio, now may be the perfect time to explore off-market opportunities
across Australia. Visit Aus Investment Properties to
discover high-yield investment properties and take advantage of the current
market trends. Our expert team
is ready to assist you in finding the best
property investments from across Australia.
To view all our investment properties please visit www.ausinvestmentproperties.com.au
Source: SQM Research National Vacancy Rates
Report, September 2024