Rental market vacancies Jan 2012

[Andrew_A]

Latest rental vacancy data from SQM research.

Tight markets in Canberra and Perth, Melbourne a concern. Brisbane roughly in balance between supply and demand.

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source: SQM research

 

[Property Meister]

doesnt really surprise me, id hate to think what the vacancy rate in the mCmansion estates are

 

[MIW]

I can see the trend that the rates increased during December and decresed in January.
I actually do not think this 3 month period is very relevant. Too short view, too generalized, and over a holiday (seasonal) period.
As long as they remain under 3% for the suburbs I invest then ok, otherwise strategies of how to beat the competitiors would need to be implemented.

 

[Ergophobia]

Darwin had a big swing, would be interesting to see the last year by month.

 

[Kent Cliffe]

Perth is crazy at the moment, many home opens have 30 plus parties through and 2/3 of those would be people migrating to Perth.

We have been suggesting this to our clients for a while, migration rates being revised up by the Department of Planning and very limited new construction. It should be a 12 to 18 month lag time before we see this improving.

Albeit we may see a drop off in migration due to most people starting their employment contracts in the new year (Jan-Feb). This creates a spike in activity.

 

[Andrew_A]

Perth is crazy at the moment, many home opens have 30 plus parties through and 2/3 of those would be people migrating to Perth.

We have been suggesting this to our clients for a while, migration rates being revised up by the Department of Planning and very limited new construction. It should be a 12 to 18 month lag time before we see this improving.

Albeit we may see a drop off in migration due to most people starting their employment contracts in the new year (Jan-Feb). This creates a spike in activity.

0.6% vacancy for Perth is impressive, would expect that some areas it's very hard to find a rental and places are going above market rent if that's legal.

 

[lizzie]

Very tight in Newcastle and the Hunter.

My IP wasn't even vacant when a new tenant was found - without even advertising - from a waiting list.

 

[nkirlew]

Darwin had a big swing, would be interesting to see the last year by month.

The rental market in Darwin looks like it is tightening up, much to the dismay of the populace according to press and news. Always been an expensive place to rent so it is not really news.
We have a place coming up for a new lease in May and will be looking closely after a few years of steady steady.
Perhaps of interest is a batch of DHA properties that just went through which are paying inflated rents, $730k property rents for $819 p/w. They come with a covering letter along the lines that the purchaser recognises that the rent is above market. There was a batch late November 2011 the same.

Prices for Darwin houses may be reaching where they were 12 months ago according to this site: http://www.nthomes.com.au (works better in Firefox).

There are plenty of 2 bedroom units coming up off the plan in the Palmerston region.