Brisbane, Adelaide and Hobart were the only states to experience increases in weekly rents for both houses and units.

Data released by SQM Research today has revealed the national residential rental vacancy rate increased in June 2019 to 2.3%, an increase from 2.2% in May.  The total number of vacancies Australia-wide is now at 78,690 vacant residential properties, an increase of 3,597 over the month and up 2,933 dwellings over the past 12 months.
 
Nearly all capital cities recorded minor increases ranging from 0.1% to 0.2% over the month, Darwin was the only capital city to record a decrease of 0.2% to 3.1% in vacancy rates.
 
Sydney continues to have the highest vacancy rates in the country at 3.5%, an increase of 0.2%. This is the highest for Sydney since 2005.  Perth’s vacancy rate is not far behind at 3.2%, having increased 0.1%.
 
Melbourne’s vacancy rate increased to 2.0%.  Hobart’s vacancy rate remains steady at 0.5% and continues to record the lowest vacancy rate in the country.


The increase in rental vacancies in June tends to be a seasonal rise for the start of winter however Sydney’s increases goes beyond seasonal factors and so our expectation remains that Sydney will reach a 4% vacancy rate before 2019 is completed.
 
Melbourne is also likely to record more rises in rental vacancies as newly completed dwellings purchased as ‘off-the-plan’ in the last boom, enter the rental market now.
 
In spite of the rise in vacancies this month, Brisbane, Adelaide and Hobart’s rental market is in favour for landlords as in these cities have also recorded moderate increases in asking rents for the month and continue to record muted dwelling completions.
 
Asking Rents

Capital city asking rents declined 0.4% for houses but remained steady for units for the week ending 12 July 2019 to record asking rents of $551 per week for houses and $441 per week for units. 

In comparison, over the 12 months, asking rents for houses increased 0.4% but declined 0.7% for units.
 
Sydney and Melbourne’s asking rents for houses and units both declined in July. Sydney rents dropped 0.5% for houses and 0.2% for units to 12 July and Melbourne’s drop was 0.9% for houses and 0.2% for units. 

Brisbane, Adelaide and Hobart were the only states to experience increases in weekly rents for both houses and units. Adelaide’s house rents increased 1.1% and units by 0.4%, Brisbane’s house rents increased by 1.0% units increased by 0.7%. Hobart’s house rents increased 3.6% and units increased by 4.9% (the highest among all states).


 

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Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. http://goanimate.com/movie/0M4bvcZzgIbI?utm_source=linkshare&uid=0u6RGtWsmlVc Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085. http://www.ljgrealestate.com.au http://www.yellowpages.com.au/qld/aspley/lj-gilland-real-estate-pty-ltd-14091356-listing.html http://au.linkedin.com/in/lindajanedebello http://twitter.com/GillandDebello http://www.facebook.com/pages/ljgrealestate
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