The rental market in Australia still faces several challenges, with the national vacancy rate at a record low of 0.7% in February. The national vacancy rate fell due to low supply and rising demand, influenced by rapid population growth (especially overseas migration), a strained construction sector, and increasing property prices, which force more people to rent longer.
However, tenant competition is declining in some locations across the country, with average views per rental listing down. The market is changing rapidly, and this ongoing decline in renter competition may signal a rise in vacancy rates later this year.
Our latest Rental Guides from the first quarter of this year are available to download. They include data on vacancy rates in Australia's state capital cities, median sales prices, and detailed rental data by suburb. They are essential for preparing for a relocation, managing expectations, and setting budgets. Increasingly, businesses are relocating people to regional locations, so we now feature a Guide for Regional Australia, too!
All are available for free on our website.
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