- Outside of Melbourne and Sydney, capital cities are either at or near record-low vacancies
- Domain has revealed the five areas within the five largest cities with the tightest vacancy rate
As we reported earlier in the week, the national vacancy held at a multi-year low of just 1.6%, according to Domain.
Most capital cities are either at or near record-low vacancy rates, except for Sydney and Melbourne.
This situation has led to the emergence of a landlord’s market whereby tenants are faced with the prospects of increased rents, especially in areas with low vacancy rates.
Already, national rents are have hit a record high of $477 a week.
As part of its Vacancy Rates report for July 2021, Domain has revealed the five areas with the lowest vacancy rate in each of the five largest cities.
|Sutherland – Menai – Heathcote||0.6%|
|Richmond – Windsor||0.6%|
|Nillumbik – Kinglake||0.5%|
Brisbane & Gold Coast
|Ormeau – Oxenford||0.3%|
|Gold Coast – North||0.3%|
|Port Adelaide – East||0.2%|
|Gawler – Two Wells||0.2%|
|Port Adelaide – West||0.3%|