A further 1700 rental properties disappeared from Australia’s rental market in September despite the nation’s population surpassing 27 million earlier this year.
That decrease represents a 1.2 per cent drop, or 1733 rental vacancies in one month alone, according to the latest SQM Research National Vacancy Rates report.
It comes after the ABS recently revealed that Australia’s population hit 27,122,411 at the end of March, an increase of 2.3 per cent or 615,3000 in 12 months.
“The total number of rental vacancies now stands at 37,932 residential properties, a decrease
from 39,665 in August 2024,” the SQM report said.
“Perth, Canberra, and Hobart plus regional Australia were the main drivers to the decline. “While all other capital cities were steady or recorded slight rises.”
Adelaide maintained one of the lowest vacancy rates at 0.6 per cent, while Perth also shrank to 0.6 per cent.
Sydney’s rental vacancy rate remained stable at 1.6 per cent, now with 11,360 rental dwellings …