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The Guardian - AU
The Guardian - AU
National
Cait Kelly

Australia’s rental vacancy falls to record low as Sydney and Melbourne feel squeeze

Melbourne Sydney Australia PropTrack Anne Flaherty
Balmain Sydney
PropTrack says Melbourne and Sydney have seen the sharpest falls in available rentals over the past 12 months, with vacancy down 0.55 ppt and 0.35 ppt respectively. Photograph: Lisa Maree Williams/Getty Images

The national rental vacancy rate has hit a new record low, with new data showing rental conditions worsening in Sydney and Melbourne.

Australia’s vacancy rate hit a new low in October, falling 0.06 percentage points to 1.02% over the month, according to the latest PropTrack Market Insight Report.

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