{"id":1153,"date":"2021-12-06T04:00:02","date_gmt":"2021-12-06T04:00:02","guid":{"rendered":"https:\/\/royabhishek.in\/urbanbuyer\/rental-markets-still-in-favour-of-landlords\/"},"modified":"2021-12-06T04:00:02","modified_gmt":"2021-12-06T04:00:02","slug":"rental-markets-still-in-favour-of-landlords","status":"publish","type":"post","link":"https:\/\/royabhishek.in\/urbanbuyer\/rental-markets-still-in-favour-of-landlords\/","title":{"rendered":"Rental markets still in favour of landlords"},"content":{"rendered":"

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\n<\/p>\n

\n
\n

\"The<\/p>\n

The odds are still in landlords\u2019 favour across rental markets in Australia as national vacancy rates remain steady at a multi-year low.<\/p>\n

Domain\u2019s latest rental vacancy report showed that Australia\u2019s vacancy rate was at 1.5% for the second consecutive month in November, the lowest level achieved since Domain\u2019s records began.<\/p>\n

Domain chief of economics and research Dr Nicola Powell said there were mixed movements across capital cities, with Sydney, Canberra, and Darwin<\/a> hitting an increase while Melbourne, Adelaide<\/a>, and Hobart went the opposite direction.<\/p>\n

\u201cAs the country opens up with the first month of eased restrictions following the latest lockdown, and as economic conditions improve, there will be further downward pressure on the national vacancy rate,\u201d Dr Powell said.<\/p>\n

\u201cThe positive outlook of reaching vaccination targets, increased job security and the opening of both domestic and international travel will benefit both renters and landlords.\u201d<\/p>\n

<\/p>\n\n\n\n\n\n\n\n<\/colgroup>\n\n\n\n\n\n\n\n\n\n\n\n\n
Rental vacancy rates Australia<\/strong><\/td>\n


\n\t\t<\/tr>\n

\u00a0<\/td>\n

<\/p>\n

Nov-21<\/strong><\/td>\n

<\/p>\n

Oct-21<\/strong><\/td>\n

<\/p>\n

Nov-20<\/strong><\/td>\n

<\/p>\n

Monthly change<\/strong><\/td>\n

<\/p>\n

Annual change<\/strong><\/td>\n


\n\t\t<\/tr>\n

National<\/td>\n

<\/p>\n

1.5%<\/td>\n

<\/p>\n

1.5%<\/td>\n

<\/p>\n

2.2%<\/td>\n

<\/p>\n

\u2013<\/td>\n

<\/p>\n

\u2193<\/td>\n


\n\t\t<\/tr>\n

Sydney<\/td>\n

<\/p>\n

2.3%<\/td>\n

<\/p>\n

2.2%<\/td>\n

<\/p>\n

3.3%<\/td>\n

<\/p>\n

\u2191<\/td>\n

<\/p>\n

\u2193<\/td>\n


\n\t\t<\/tr>\n

Melbourne<\/td>\n

<\/p>\n

3.0%<\/td>\n

<\/p>\n

3.1%<\/td>\n

<\/p>\n

4.6%<\/td>\n

<\/p>\n

\u2193<\/td>\n

<\/p>\n

\u2193<\/td>\n


\n\t\t<\/tr>\n

Brisbane<\/td>\n

<\/p>\n

1.2%<\/td>\n

<\/p>\n

1.2%<\/td>\n

<\/p>\n

1.8%<\/td>\n

<\/p>\n

\u2013<\/td>\n

<\/p>\n

\u2193<\/td>\n


\n\t\t<\/tr>\n

Perth<\/a><\/td>\n

<\/p>\n

0.5%<\/td>\n

<\/p>\n

0.5%<\/td>\n

<\/p>\n

0.7%<\/td>\n

<\/p>\n

\u2013<\/td>\n

<\/p>\n

\u2193<\/td>\n


\n\t\t<\/tr>\n

Adelaide<\/td>\n

<\/p>\n

0.4%<\/td>\n

<\/p>\n

0.5%<\/td>\n

<\/p>\n

0.7%<\/td>\n

<\/p>\n

\u2193<\/td>\n

<\/p>\n

\u2193<\/td>\n


\n\t\t<\/tr>\n

Hobart<\/td>\n

<\/p>\n

0.3%<\/td>\n

<\/p>\n

0.4%<\/td>\n

<\/p>\n

0.5%<\/td>\n

<\/p>\n

\u2193<\/td>\n

<\/p>\n

\u2193<\/td>\n


\n\t\t<\/tr>\n

Canberra<\/td>\n

<\/p>\n

0.9%<\/td>\n

<\/p>\n

0.8%<\/td>\n

<\/p>\n

0.9%<\/td>\n

<\/p>\n

\u2191<\/td>\n

<\/p>\n

\u2013<\/td>\n


\n\t\t<\/tr>\n

Darwin<\/td>\n

<\/p>\n

0.9%<\/td>\n

<\/p>\n

0.6%<\/td>\n

<\/p>\n

0.8%<\/td>\n

<\/p>\n

\u2191<\/td>\n

<\/p>\n

\u2191<\/td>\n


\n\t\t<\/tr>\n<\/tbody>\n<\/table>\n

\n
\n
Data provided by \"domain\"<\/a><\/div>\n<\/div>\n<\/div>\n

<\/div>\n

Tight capital markets<\/h2>\n

Despite the individual movements in vacancy rates, all capital cities have tighter rental markets compared to last year, except in Canberra where conditions remained the same and Darwin where vacancies rose marginally.<\/p>\n

Dr Powell said conditions continued to remain tighter across capital cities compared to the April 2020 COVID-induced peak, except for Melbourne, which currently has a vacancy rate that is marginally off its April 2020 vacancy rate.<\/p>\n

\u201cThis is a significant turnaround considering the exposure Melbourne has to international students and overseas migrants as a source of rental demand,\u201d she said.<\/p>\n

Two of the biggest factors driving Melbourne\u2019s vacancies was the latest easing of the lockdown and the move to allow onsite rental inspections \u2014 these have seen the city\u2019s vacancy rate decline to 3%.<\/p>\n

\u201cThis downward trend, coupled with a 4.2% month-on-month fall in rental listings, could see Melbourne\u2019s rental market eventually become a landlord\u2019s one. A real possibility once international borders reopen,\u201d Dr Powell said.<\/p>\n

Meanwhile, Sydney\u2019s vacancy rate was still at its lowest level since September 2018 despite increasing marginally to 2.3% in November.<\/p>\n

In Canberra, the vacancy rate in November was higher than before the lockdown in July, possibly due to the jump in the number of rental listings over the month.<\/p>\n

Outside these three cities, rental markets across smaller capitals remained tight, with vacancy rates still at multi-year lows in Perth, Hobart, Adelaide, and Brisbane.<\/p>\n

\u2014<\/p>\n

Photo by Amos Lee on Unsplash<\/p>\n<\/p><\/div>\n


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