The latest figures for June from SQM Research show Brisbane has the second highest vacancy rate in the nation at 3.3 per cent, with 11,497 properties without a tenant during the month.
“The market is definitely favouring tenants,” SQM Research managing director Louis Christopher said.
And it’s even better if you’re prepared to lease a property in the CBD, with the vacancy rate for inner Brisbane sitting at an “elevated” 4.9 per cent.
“If you’re happy to live in the CBD in a nice apartment, you can get yourself a pretty good deal at the moment,” Mr Christopher said.
“The market in Brisbane is oversupplied with stock, particularly apartments, which is dragging on the city average.”
But he said vacancy rates were lower in the city’s middle and outer rings.
Perth has the highest vacancy rate in the country at 5 per cent, while Sydney saw the biggest rise in the vacancy rate during the month of June — up 0.3 per cent to 2.1 per cent.
The number of vacant rental homes nationally was 78,314 in June, giving a national vacancy rate of 2.4 per cent — up from 2.2 per cent in May.
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Rents are also cheaper.
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Annually, asking rents for houses fell 0.2 per cent in Brisbane and rents for units were down by 0.4 per cent over the month.
The asking rent for a three-bedroom house in Brisbane is now $443 while for units it stands at $367.
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties.
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