National Vacancies drop in February
Having an investment property without a tenant is the biggest fear of a property investor so it was great news released in the email newsletter from hotspotting.com.au’s newsletter dated 22 March.
Figures released by SQM Research revealed that the number of residential vacancies nationally decreased further in February, dipping 0.1 percentage points to record a 2.1% vacancy rate nationally. Year on year, vacancies 0.3 percentage points higher, with the country experiencing a looser rental market than this time last year.
Of particular interest this month was Melbourne’s vacancy rate figures, falling 0.5 percentage points in February to a vacancy rate of 2.4% – the lowest vacancy rate recorded for Melbourne since May 2011. SQM Research notes, however, that vacancies in the Melbourne CBD remain well up on the same time last year. “We retain our warning for CBD vacancy rates,” it said