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The national vacancy rate remains low. Image – Canva.
  • 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.

Sydney

Wyong 0.5%
Blue Mountains 0.5%
Sutherland – Menai – Heathcote 0.6%
Camden 0.6%
Richmond – Windsor 0.6%

 

Melbourne

Yarra Ranges 0.4%
Macedon Ranges 0.5%
Nillumbik – Kinglake 0.5%
Cardinia 0.5%
Mornington Peninsula 0.5%

 

Brisbane & Gold Coast

Coolangatta 0.3%
Nerang 0.3%
Ormeau – Oxenford 0.3%
Gold Coast – North 0.3%
Capalaba 0.4%

 

Perth

Kwinana 0.2%
Gosnells 0.2%
Wanneroo 0.3%
Swan 0.3%
Kalamunda 0.4%

 

Adelaide

Port Adelaide – East 0.2%
Adelaide Hills 0.2%
Gawler – Two Wells 0.2%
Playford 0.3%
Port Adelaide – West 0.3%

 

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