Finder makes money from featured partners, but editorial opinions are our own.

Rental market getting more competitive


generation rentAfter several months of rising vacancy rates, the rental market is finally beginning to tighten.

New figures from SQM Research show that while the national vacancy rate held steady at 2.4% in February, vacancy rates in several capital cities have seen a decline.

Vacancies in Sydney have fallen to 1.9%, down from 2% in January and 2.5% in December. Vacancies in Canberra are also down, falling to just 0.9% from 1.1% in January. Melbourne, meanwhile, has recorded its lowest vacancy rate since June 2007, at just 1.7%.

Hobart remains the country’s tightest rental market, with a vacancy rate of just 0.7%. Perth has recorded the highest vacancy rate at 4.8%, followed by Darwin at 3.8%. Vacancies in Brisbane are steady at 3.3% and rates have also remained unchanged in Adelaide at 2.2%.

7 tips for a successful rental application

With Melbourne vacancies hitting near a 10-year high, asking rents are also up strongly, rising 1.6% over the month to March 20. The rise represents an annual change of 7.2%. Canberra saw the largest annual rise in asking rents, at 7.6%.

Darwin, meanwhile, continues to record a decline in asking rents. Asking rents for houses were down 1.5% for the month to March 20, while unit asking rents were down 1.3%. Perth saw the largest yearly decline in asking rents, with asking rents for houses down 7.1% and unit asking rents down 10.1%.

Latest home loans headlines

Image: Shutterstock

Find the right home loan now

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site