Sydney’s vacancy rate rose slightly to 1.6% from 1.5%, with 11,957 dwellings available, while Melbourne held at 1.6% with 8,640 vacancies. Canberra increased to 1.7% from 1.6%, recording 1,063 vacancies. Hobart rose to 0.7% from 0.6%, with 185 dwellings available.
National vacancy rates
Monthly residential vacancies and vacancy rate, 2005–2026 | Source: SQM Research
National advertised rents, while easing 0.4% over the past 30 days, remained 8.1% higher than a year earlier. The national combined weekly rent average stood at $697.43, with the capital city average at $793.63. House rents fell 0.5% over the month but remained 8.7% higher annually; unit rents were down 0.2% for the month and 7.1% higher year-on-year.
Among the capitals, Darwin recorded the strongest annual rent growth at 13.8%, followed by Hobart at 12.1% and Brisbane at 9.1%. Perth’s combined rents fell 1.6% for the month but remained 5% higher than a year ago. Sydney’s house rents averaged $1,149.81 per week, with combined rents 7.6% higher year-on-year.
“While the national vacancy rate has edged up to 1.3%, Australia’s rental market remains exceptionally tight by historical standards,” said Louis Christopher (pictured right), managing director at SQM Research. “Most capital cities continue to record vacancy rates below 1% or only marginally above, highlighting that rental supply remains insufficient to meet demand.
“The encouraging sign is that rental growth appears to be moderating in some markets, with national asking rents easing slightly over the past month. However, annual rental growth remains strong at 8.1%, and cities such as Darwin, Hobart and Brisbane continue to experience significant rental inflation.