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Vacancy rates in recovery for Melbourne CBD landlord investors: SQM

Melbourne’s June vacancy rate fell to 3.5% from 3.7% in May, while in Sydney vacancy rates dropped to 2.8% from 2.9%

Vacancy rates in recovery for Melbourne CBD landlord investors: SQM
Vacancy rates in recovery for Melbourne CBD landlord investors: SQM

The national residential rental vacancy rate fell to 1.7% June down from 1.8% in the month prior, reflecting the lowest vacancy rate at the national level since May 2011. 

Vacancy rates continue to fall for Sydney, Melbourne, Adelaide and Hobart, while some regional locations recorded a moderate rise in vacancies.
 
The total number of vacancies Australia-wide now stands at 60,457 residential properties, down from 62,144 in May. 

Melbourne’s vacancy rate fell to 3.5% in June from 3.7% in May, while in Sydney vacancy rates dropped to 2.8% from 2.9%. 

SQM calculated vacancy rates fell again within the Melbourne CBD to 5.8%.

It also fell in the Sydney CBD to 5.6%.

Just a month prior the CBD vacancy rates sat at 8% in Melbourne, and in the Sydney CBD at 6.8%.

Both CBD were seeing "a return towards more-longer term levels," according to SQM's Louis Christopher.

The  Melbourne CBD vacancy rates was at 8.3% in April.

Other capital city results saw Brisbane at at 1.3%.

In Adelaide, Canberra and Hobart, the June vacancy rate remained below 1%, while Perth (0.9%) and Darwin (0.4%) remained constant. 

Darwin has been positively affected by Covid-19, as low vacancy rates continue to boost rents. 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Tags: 
Vacancy Rates

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