The nationwide vacancy rate for rental apartments remained stable at 1.42 percent in July, although the situation improved in some cities.

Here is your one-minute summary of the latest PropTrack Market Insight Report.

The headline:

National The vacancy rate for rental apartments fell slightly by 0.01 percentage points to 1.42 percent in July.

The fast five:

• Capital city The vacancy rate remained unchanged at 1.47 percent.
• Regional Vacancy rates fell by 0.04 percentage points to 1.28 percent.
• Sydney’s Vacancy rate maintained at 1.68 percent0.36 percentage points more than three months ago.
• Canberra’s The vacancy rate rose to 2 percentthe highest level in 12 months.
• Loan commitments from investors rose 25 percent in the June quarter of 2024 compared to the same period last year.

What else you need to know:

Darwin now has the lowest vacancy rate of all capital cities at 1.03 percentwhile Hobart We recorded the largest decline in the month, namely by 0.17 percentage points to 1.11 percent.

Cameron Kusher, Director of Economic Research at PropTrack, says:

“Increased investor activity has resulted in more rental properties coming onto the market, counteracting the increasing demand caused by population growth.”

Dive deeper:

Click here to view the full rental vacancy rate report.