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While the national residential rental vacancy rate has remained steady, Melbourne and Sydney are still struggling through the pandemic's effects. SQM Research has found the national residential rental vacancy rate sitting at 2. 0 per cent in February 2021 – a result that stands steady from a year ago. Currently, there are a total of 71, 544 vacant rental properties across combined capital cities. Drilling down to each capital city, Melbourne and Sydney garnered results that "would be disappointing for existing property investors", according to SQM Research managing director Louis Christopher. Melbourne saw the highest vacancy rate over the month at 4. 5 per cent or a total of 27, 804 vacant rental properties. While this is lower than the December 2020 peak at 4. 7 per cent, the current rate stood way higher than last year's 1. 9 per cent. In the Melbourne CBD, vacancy rate is even higher at 7. 5 per cent, albeit down from October 2020's 9. 4 per cent. Mr Christoper said that Melbourne remains weighed down by the withdrawal of international students as well as the consistently underwhelming demand for rental accommodation since COVID-19 hit.

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Sun, 25 Apr 2021 20:42:44 +0000 gold-coast-accommodation-serviced-apartment