Softer rental numbers continue
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Softer rental numbers continue
Posted on Monday, May 18 2015 at 4:15 PM
Market analysts SQM Research have released figures showing residential vacancies climbed nationally in April 2015.
The
month’s vacancy rate of 2.3 per cent is up from the 2.1 per cent result in in
February
SQM
says rises were recorded in all capital cities, excluding Hobart where the
vacancy rate remained unchanged.
“The
rental market remains in its slow down phase and I believe the rental market overall
is going to remain soft for some time to come,” says SQM Research managing
director, Louis Christopher.
Their
research shows the biggest rise in vacancy numbers for April occurred in
Canberra with a monthly change of 0.4 percentage points from March.
Modest
climbs were also posted in Sydney and Adelaide.
Darwin
has posted the biggest yearly rise in its vacancy rate to 3.5 per cent from 2.1
per cent, reflecting the continued impact of the commodities downturn.
Perth
has also recorded ongoing yearly rises with vacancy rates rising from 2.4 per
cent to three per cent in April.
Christopher
says while current results show generally falling tenant demand, future
performance will be inconsistent across localities.
“Some regions may beat this outlook such as South
East Queensland, parts of Melbourne and Hobart where tenancy demand is
accelerating.
“Darwin
and Perth will continue to display weakness as the mining downturn continues to
bite hard.”
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