Sydney rental vacancy rate surges to 16.2 percent

Sydney rental vacancy rate at record high as national rate falls - Domain
Empty rentals in Sydney, Brisbane hit new high - AFR

How high can it go?

Experts expect further surges when jobkeeper is wound back.

 

A ban on international travel would have most impact on Sydney/Melbourne, so no surprise there i suppose.

I would imagine Sydney/Melbourne apartment blocks will continue to come online over the next few months.

Perth has had such a slowdown since 2014 that there's no new supply coming online.

 

I was lucky enough to secure a tenant on a 12 month lease for my apartment in the CBD (for reduced rent of course).

If you own something in CBD area, try to get a 12-month lease if possible.

 

If you took out a 12 month lease then find for work or compassionate reasons, you need to move, how much does it cost to break a lease? Do the costs change if you simply don't like it?

 

Its interesting comparing the capitals - percentage rise in vacancies March to May (two months).

2000 Sydney up 184%
3000 Melbourne up 88%
5000 Adelaide up 148%
7000 Hobart up 105%

So vacancies are increasing faster in Adelaide and Hobart, than they are in Melbourne.

 

The postcode supplied is very limited. In Melbourne 3000 maybe more local Aussies in Sydney 2000 its largely Students, tourists and temp residents.

This data doesn’t give enough information.

 

Probably a better chart rather than headline grabbing 16% without understanding of what it is.

 

Adelaide CBD postcode has a very large Student population with UniSa right in the CBD.

 

Adelaide's biggest export now (or maybe was) is higher education, so I assume that is why rental vacancies there have exploded up 148%
International education overtakes wine as SA’s No.1 export

 

Isn't Adelaide uni also in North Terrace. They apparently have a 250 million dollar budget hit.

 

It gives wrong picture. Actually Sydney mkt price felt half of Melbourne. But rental is viceversa..

 

Vacancy rates are all over the place! Jump on SQM and you will see some surprises.

 

Spot on!
For Melbourne you have to include Southbank and Docklands postcodes.

 

Good point, I will need to check the fine print of the lease contract.