Property investors will be interested that Sydney’s vacancy rate has remained unchanged at a low 1.6% in March quarter figures released by the Real Estate Institute of Australia (REIA) – the lowest capital city market, Other city vacancy rates listed below.
Brisbane at 1.7%,
Perth at 1.9%
Melbourne and 2.3%.
Generally, vacancy levels under 3 per cent are considered to reflect a tight rental market with insufficient properties being available, usually increasing the asking rental prices.