Areas latest vacancy rate report just released for December 2021, and the data shows mixed results.
The country’s vacancy rate rose for the first time in 12 months, up 0.2%.
This is obviously not good news for owners, but conversely, the overall rental stock has decreased by 31% in 2021, which means less choice for future tenants.
READ MORE: Australian vacancy rates are on the rise
It’s the same story for the capitals. Melbourne and Sydney saw notable increases in vacancy rates for December 2021, but Hobart and Adelaide saw no change.
There is therefore a polarity at all levels. And that’s what we’re focusing on.
Here are the five biggest winners and losers from the latest Domain Vacancy Rate report.
The vacancy rate decreases
Although still the area with the most vacant rental housing in the Queensland capital, Brisbane Inner saw its vacancy rate drop 0.6% from November 2021, with figures for December showing central city now has a vacancy rate of 3.7 percent. hundred.
By wiping off 0.5% of its vacancy rate, the inner city suburbs that make up the city of Melbourne have shown tenants returning to Australia’s second most populous CBD. Its current vacancy rate of 4.5% is a huge drop of 9.3% from the 13.8% figure in December 2020.
Located 42 kilometers southwest of Perth’s CBD, the industrial suburb of Kwinana in Western Australia saw its vacancy rate drop from 0.6% in November 2021 to 0.2% in December 2021. The drop in 0.4% means that Kwinana now has one of the lowest vacancy rates. rates all over the country.
The suburb closest to the City of Churches also saw vacancy rates drop significantly, from 2.9% in November 2021 to 2.5% in December of the same year.
The relatively small figure proves that the demand for rental properties in the eminently livable city continues to grow. In comparison, Adelaide’s vacancy rate for the same period in 2020 was 5.9%.
Rounding out the area with the largest drop in vacancy rates in the country, North Canberra and its 14 suburbs saw their rental vacancy rate drop from 1.8% in November 2021 to 1.6% in December.
Increase in vacancy rate
As Sydney saw the largest increase in the vacancy rate of any city in the country in December 2021, it is not surprising that the urban area with the largest increase in the vacancy rate is an area of the city of emerald.
Located in Sydney’s Upper North Shore, Hornsby’s vacancy rate fell from 2.3% in November 2021 to 3.2% in December.
Melbourne is still the Australian capital of vacant rental housing, with a current rate of 3.2%. And, despite the return of tenants to the former most livable city in the world, the fact that Melbourne is also the most closed city in the world has had a lasting impact on its rental market.
Located northeast of Melbourne and comprising 20 suburbs, Banyule has seen its vacancy rate drop from 3.9% to 4.9% in just one month.
The warm tropical region of the Gold Coast hinterland also saw a sharp increase in its vacant rental housing in December 2021, jumping 0.8% to 1.2% from the previous month.
The busiest Top End area was also one of the biggest losers in Domain’s latest vacancy rate report, dropping from 1.1% in November 2021 to 1.9% in December. Darwin also has the distinct dissatisfaction of being the country’s only capital with year-over-year rental vacancy increases.
Encompassing more than 20 suburbs north of Sydney’s CBD, Warringah has seen its vacancy rate rise 0.8% in just one month. The increase in the number of vacant rentals for December 2021 also means the northern region is up 0.4% year-over-year.