The Aussie capital city where vacancies are climbing and rents are dropping

by AB17 Sep 2015
Vacancy rates have continued to fall across the nation, with some notable exceptions.

New figures from SQM Research show vacancies fell slightly in August, with a nationwide vacancy rate of 2.3%. The vacancy rate dropped slighly in most capital cities, excluding Adelaide, Brisbane and Darwin where the vacancy rate remained steady.

Year-on-year vacancy rates have continued to climb in Darwin, however, with a 2% jump from the same time last year. Asking rents have also dropped steeply in Darwin. The city has seen a 21.3% decline in asking rents for houses over the last 12 months, and a 17.8% drop for units. Asking rents also fell in Perth, down 8.1% for houses and 5.5% for units.

In contrast, asking prices have posted a strong yearly rise in Hobart. Prices are up 6.7% for houses and 8.3% for units. Asking rents in Adelaide, Melbourne and Sydney have also seen modest rises for the year.