In property news, Australia’s rental market remains tight as property investors enjoy a continuing low vacancy rates…
One leading property researcher has forecast that this is unlikely to change anytime soon.
For July, 2023, the national vacancy rate was just 1.3%, according to SQM Research, which means there are very few untenanted rental properties right now. The current demand makes it relatively easy for investors to find tenants and renters are willing to pay higher rents to secure quality accommodation.
According to some experts, the main cause of the tight rental market and fast-rising rents had been strong population growth.
“Clearly, acute rental shortages remain with us,” says SQM managing director Louis Christopher,
“…there’s no significant solution on the horizon.”
