Vacancy Rates Record Slight Rise

Vacancy Rates Record Slight Rise

National vacancy rates have increased slightly but remain very tight.

According to SQM Research, the national rate increased to 1.4% in September 2026, up from 1.3% in August.

This represents about 42,290 vacant dwellings – about 1250 more than the previous month.

The national increase is driven in part by easing in both Sydney and Melbourne, where vacancy rates rose to 1.8% and 1.9% respectively. Canberra (1.9%) is the only other capital with a vacancy rate above 1%, with Brisbane, Perth, Adelaide, Darwin and Hobart all below that level.

In Brisbane there are only about 3,222 dwellings available for rent; Perth has about 1,189 available, Adelaide has 948, Darwin 162 and Hobart 127.

SQM Research managing director, Louis Christopher, says the slight easing of the national vacancy rate suggests the beginning of a gradual easing in rental conditions.

“We will be watching closely over the coming months to see whether the softening in unit rents continues through the spring leasing season and broadens into a moderation in rental growth overall.”