by Sanjeev Sah | Mar 19, 2024 | Market Updates

Australia’s rental vacancy rate fell to an all-time low of 0.7%, according to Domain. 

Several capital cities have reached new lows or decreased back to their previous lows:  

* Sydney fell to a new record of 0.8% vacancy 

* Melbourne fell back to its March 2023 record of 0.8% 

* Brisbane fell to 0.7% 

* Perth fell to 0.3% 

* Adelaide held steady at 0.3%

* Darwin fell to 1.3% 

* Hobart held steady at 0.7% 

* Canberra fell to 1.3% 

Perth and Adelaide lead the way with the tightest rental markets. Domain says this is due, in both cases, to “stubbornly low” rental stock.