Powered By:

    Australia's Rental Vacancy Rate at Lowest Level Since Before COVID-19 Pandemic

    The percentage of rental properties available in Australia is at its lowest level since before the start of the pandemic, with data showing the rental market has tightened significantly in capital cities and regional parts of the country. Newly released data from the PropTrack Market Insight Report shows the national rental vacancy rate fell by 0.1 percentage points in February, taking it to 1.47 percent, the lowest rate since late 2018. The rental vacancy rate in capital cities currently sits at 1.43 per cent, having fallen by 0.14 percentage points in February, pointing to a rapid tightening of the rental market. In regional Australia, the rental vacancy rate is marginally higher at 1.58 per cent, meaning it is now more difficult for renters to find a property in capital cities compared to the regions since before the start of the pandemic in March 2020. PropTrack senior economist Paul Ryan said the rental market was "extremely tight."

    ABC (Australia) (03/10/23) Kate Ainsworth

    Read More

    Recent Stories
    Hotel-Quality Vacation Rentals, Without the Hotel

    Driving the Industry Forward

    Bill Would Change Regulations for Vacation Rentals