Adelaide has the second-most competitive rental market with a vacancy rate of 0.92 per cent, which has dipped by 45 per cent since the start of the pandemic.
Hobart was the only capital city to see an increase in its rental vacancy rate in February, although it was marginal at just 0.06 percentage points. Mr Ryan said there has also been a noticeable surge in demand for rental properties in Sydney and Melbourne, with both capitals seeing a tighter rental market over the past year.
"Melbourne's vacancy rate has more than halved over the past 12 months, so it shows just how tough conditions have gotten."
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Australia's rental market is the tightest its been in years — and it won't be easing anytime soonNew data released from PropTrack shows Australia's national rental vacancy rate is at its lowest level since 2018 — and it is unlikely to improve any time soon. Maybe if we let in more immigrants who keep wages low, rent high and would rather complain about Australia than assimilate? Surely that will work (even if it's only made the problem worse for decades now!) Of course it won't be easing any time soon!!. Damage already done imo. How do you write this article and fail to mention that in spite of demand, the construction of new properties has fallen off a cliff and builders are going bankrupt across the nation? Some large architectural practices that have fired 30% of their staff in the last month…
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