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Vacancy rate hits new low! Australia's vacancy rate has fallen even further, declining from a previous record low of 0.8% in January to just 0.7% in February, according to Domain. That means only 7 out of every 1000 rental properties across the country were vacant – making conditions very favourable for property investors and challenging for tenants. Nevertheless, Domain’s chief of research and economics, Nicola Powell, said that a bigger-picture view of the data suggested the rental market was actually loosening. “The number of prospective tenants per rental listing is easing, indicating falling competition between renters. This supports the trend of slowing rental growth, suggesting demand is pulling back. This could be an early indicator of an increase in vacancy rates sometime this year,” she said.

📢 National Rental Vacancy Rate Update The national rental vacancy rate rose 0.09% to 1.42% in June, the highest since June 2023, bringing some relief for renters. Vacancies have increased for four consecutive months, up from a record low of 1.09% in February. 🏙️ City Trends: Vacancies in capital cities have risen for four months, now at the highest level since September 2022. Despite this increase, vacancies are still almost half of pre-pandemic levels. 📊 Market Insights: Increased investor activity and seasonal slowing in rental demand are contributing to the higher vacancy rates. Strong population growth continues to drive rental demand. 💡 Economic Impact: The value of new lending to investors rose 29.5% in May, adding to the pool of long-term rentals. High rental costs and low vacancy rates are encouraging some renters to buy homes, increasing homebuying demand. 🏗️ Construction Shortfall: Building approvals remain low, with a 33% deficit needed to meet the National Cabinet’s housing goals. Population growth is expected to outpace new housing completions, keeping upward pressure on rents and home prices. Despite the easing vacancy rates, rental markets remain undersupplied. Rental prices rose by 10.3% in the year to June 2024, though the growth pace has slowed. The rental market will likely stay tough for renters until new supply becomes available. Stay informed with more updates! #RentalMarket #RealEstate #HousingCrisis #InvestFox

📢 National Rental Vacancy Rate Update The national rental vacancy rate rose 0.09% to 1.42% in June, the highest since June 2023, bringing some relief for renters. Vacancies have increased for four consecutive months, up from a record low of 1.09% in February. 🏙️ City Trends: Vacancies in capital cities have risen for four months, now at the highest level since September 2022. Despite this increase, vacancies are still almost half of pre-pandemic levels. 📊 Market Insights: Increased investor activity and seasonal slowing in rental demand are contributing to the higher vacancy rates. Strong population growth continues to drive rental demand. 💡 Economic Impact: The value of new lending to investors rose 29.5% in May, adding to the pool of long-term rentals. High rental costs and low vacancy rates are encouraging some renters to buy homes, increasing homebuying demand. 🏗️ Construction Shortfall: Building approvals remain low, with a 33% deficit needed to meet the National Cabinet’s housing goals. Population growth is expected to outpace new housing completions, keeping upward pressure on rents and home prices. Despite the easing vacancy rates, rental markets remain undersupplied. Rental prices rose by 10.3% in the year to June 2024, though the growth pace has slowed. The rental market will likely stay tough for renters until new supply becomes available. Stay informed with more updates! #RentalMarket #RealEstate #HousingCrisis #InvestFox

Vacancy rate hits new low! Australia's vacancy rate has fallen even further, declining from a previous record low of 0.8% in January to just 0.7% in February, according to Domain. That means only 7 out of every 1000 rental properties across the country were vacant – making conditions very favourable for property investors and challenging for tenants. Nevertheless, Domain’s chief of research and economics, Nicola Powell, said that a bigger-picture view of the data suggested the rental market was actually loosening. “The number of prospective tenants per rental listing is easing, indicating falling competition between renters. This supports the trend of slowing rental growth, suggesting demand is pulling back. This could be an early indicator of an increase in vacancy rates sometime this year,” she said.

Vacancy rate hits new low Australia's vacancy rate has fallen even further, declining from a previous record low of 0.8% in January to just 0.7% in February, according to Domain. That means only 7 out of every 1000 rental properties across the country were vacant – making conditions very favourable for property investors and challenging for tenants. Nevertheless, Domain’s chief of research and economics, Nicola Powell, said that a bigger-picture view of the data suggested the rental market was actually loosening. “The number of prospective tenants per rental listing is easing, indicating falling competition between renters. This supports the trend of slowing rental growth, suggesting demand is pulling back. This could be an early indicator of an increase in vacancy rates sometime this year,” she said. #property #realestate #homeloans #therentalspecialists

Vacancy rate hits new low Australia's vacancy rate has fallen even further, declining from a previous record low of 0.8% in January to just 0.7% in February, according to Domain. That means only 7 out of every 1000 rental properties across the country were vacant – making conditions very favourable for property investors and challenging for tenants. Nevertheless, Domain’s chief of research and economics, Nicola Powell, said that a bigger-picture view of the data suggested the rental market was actually loosening. “The number of prospective tenants per rental listing is easing, indicating falling competition between renters. This supports the trend of slowing rental growth, suggesting demand is pulling back. This could be an early indicator of an increase in vacancy rates sometime this year,” she said. #property #realestate #homeloans 

Vacancy rate hits new low Australia's vacancy rate has fallen even further, declining from a previous record low of 0.8% in January to just 0.7% in February, according to Domain. That means only 7 out of every 1000 rental properties across the country were vacant – making conditions very favourable for property investors and challenging for tenants. Nevertheless, Domain’s chief of research and economics, Nicola Powell, said that a bigger-picture view of the data suggested the rental market was actually loosening. “The number of prospective tenants per rental listing is easing, indicating falling competition between renters. This supports the trend of slowing rental growth, suggesting demand is pulling back. This could be an early indicator of an increase in vacancy rates sometime this year,” she said. #property #realestate #homeloans

Vacancy rate hits new low Australia's vacancy rate has fallen even further, declining from a previous record low of 0.8% in January to just 0.7% in February, according to Domain. That means only 7 out of every 1000 rental properties across the country were vacant – making conditions very favourable for property investors and challenging for tenants. Nevertheless, Domain’s chief of research and economics, Nicola Powell, said that a bigger-picture view of the data suggested the rental market was actually loosening. “The number of prospective tenants per rental listing is easing, indicating falling competition between renters. This supports the trend of slowing rental growth, suggesting demand is pulling back. This could be an early indicator of an increase in vacancy rates sometime this year,” she said. #property #realestate #homeloans

Vacancy rate hits new low 👇👇💭 Australia's vacancy rate has fallen even further, declining from a previous record low of 0.8% in January to just 0.7% in February, according to Domain. That means only 7 out of every 1000 rental properties across the country were vacant – making conditions very favourable for property investors and challenging for tenants. Nevertheless, Domain’s chief of research and economics, Nicola Powell, said that a bigger-picture view of the data suggested the rental market was actually loosening. “The number of prospective tenants per rental listing is easing, indicating falling competition between renters. This supports the trend of slowing rental growth, suggesting demand is pulling back. This could be an early indicator of an increase in vacancy rates sometime this year,” she said. #property #realestate #homeloans #realestateaccountants

Australia's vacancy rate fell from 1.0% in December back to a record-low 0.8% in January, according to Domain, following the seasonal rise that tends to occur at the end of the year. The vacancy rate (which measures the share of unoccupied rental properties) also fell in most capital cities between December and January. While vacancy rates remain at historically low levels in many parts of the country, Domain’s chief of research and economics, Nicola Powell, said the rental market appeared to be easing. “The glimmer of hope for renters this year does remain as we are likely moving into a period of slower rental growth and the number of prospective tenants per rental listing is easing. This suggests that rental demand is pulling back, and while it hasn’t been enough to boost the vacancy rate, it could be on the horizon,” she said. Please feel free to reach out to us. You can book a 15 minute call with Luke here https://bit.ly/49qG9ll #property #realestate #homeloans