Where Rents Are Highest
Rents are likely to start rising again throughout Australia driven by demand from university students about to start a new school year.
Analysis from SQM Research shows that record high rents mean some landlords have pocked tens of thousands of dollars more in rent in the past 12 months.
SQM Research managing director, Louis Christopher, says there is a renewed tightness in the rental market across the board after easing slightly in December last year.
“Vacancies were already low to start with due to the ongoing rental shortage, so this renewed increase in demand can only push rents higher at a rapid pace, certainly over the first half of the year,” he says.
The national vacancy rate is 1.1%. Adelaide’s vacancy rate is 0.4%, Perth, 0.5%, Brisbane and Melbourne are 1.1% and Sydney 1.3%.
SQM analysis shows in the past month, rents increased by 2.4% in Melbourne, 1% in Sydney, Brisbane, Canberra and Perth and by 0.9% in Adelaide.
Christopher says, “rents are surging just about everywhere”.
