The national residential rental vacancy rate marginally declined in August 2019 to 2.2% from July.
The total number of vacancies Australia-wide is now at 75,757 vacant residential properties, a decrease of 589 over the month but up 5,310 dwellings over the past 12 months. 
Sydney, Perth and Adelaide recorded minor decreases of 0.1% in vacancy rates.
Brisbane, Canberra and Hobart increased by 0.1%, with Hobart remaining the lowest in the country at 0.6%.
All other capital cities remained steady over the month.
Sydney continues to have the highest vacancy rate in the country at 3.4%, this time last year the rate was lower at 2.8%.
| City | August 2018 Vacancies | August 2018 Vacancy Rate | July 2019 Vacancies | July 2019 Vacancy Rate | August 2019 Vacancies | August 2019 Vacancy Rate |
| Sydney | 19,507 | 2.8% | 24,869 | 3.5% | 24,465 | 3.4% |
| Melbourne | 9,191 | 1.6% | 11,674 | 2.0% | 11,830 | 2.0% |
| Brisbane | 9,274 | 2.8% | 8,154 | 2.4% | 8,283 | 2.5% |
| Perth | 7,614 | 3.7% | 6,303 | 3.0% | 6,004 | 2.9% |
| Adelaide | 2,200 | 1.2% | 2,034 | 1.1% | 1,857 | 1.0% |
| Canberra | 416 | 0.7% | 747 | 1.1% | 781 | 1.2% |
| Darwin | 1,084 | 3.5% | 913 | 2.9% | 926 | 2.9% |
| Hobart | 135 | 0.5% | 147 | 0.5% | 170 | 0.6% |
| National | 70,447 | 2.1% | 76,346 | 2.3% | 75,757 | 2.2% |
Residential property rental vacancy rates remained largely steady for the month of August with perhaps the exception of Perth which continues to record a recovering rental market.
While Sydney did record a slight decline our expectation is the Sydney rental market will still fall from here.
Rental vacancy rates will peak at 4% in Sydney by the end of this year.
Asking Rents
Over the month, Capital city asking rents declined 0.4% for houses but remained steady for units for the week ending 12 September 2019 to record asking rents of $544 per week for houses and $438 per week for units.
In comparison, over the 12 months, asking rents for houses declined 1.4% and a 0.5% decline for units.
Sydney recorded declines in asking rents over the month for both houses and units by 1.3% and 0.2% respectively.
Melbourne also saw declines in both houses and units over the month, dropping 0.2% for houses and 0.7% for units.
Hobart’s unit rental market increased 4.8% over the month but houses declined 0.5%.
Brisbane continues to be the only capital city to record increases in weekly rents over the month for both houses and units at 0.6% for houses and 0.9% for units.
| SQM Research Weekly Rents Index | |||||
| Week ending: 12 September 2019 | Rent | Change on prev week |
Rolling month % change |
12 month % change |
|
| Sydney | All Houses | 676.1 | -0.1 | -1.3% | -4.5% |
| All Units | 497.9 | 0.1 | -0.2% | -3.3% | |
| Melbourne | All Houses | 524.7 | -1.7 | -0.2% | -0.4% |
| All Units | 418.4 | -1.4 | -0.7% | 2.2% | |
| Brisbane | All Houses | 466.2 | -0.2 | 0.6% | 3.5% |
| All Units | 378.0 | 1.0 | 0.9% | 1.9% | |
| Perth | All Houses | 440.4 | 3.6 | 1.1% | 4.1% |
| All Units | 337.7 | -0.7 | -0.2% | 5.1% | |
| Adelaide | All Houses | 399.4 | -0.4 | 0.2% | 3.7% |
| All Units | 312.1 | -0.1 | -0.1% | 4.7% | |
| Canberra | All Houses | 603.2 | -1.2 | -1.2% | -5.2% |
| All Units | 459.4 | 0.6 | 0.1% | 4.6% | |
| Darwin | All Houses | 513.1 | 1.9 | -0.1% | -0.4% |
| All Units | 380.3 | 4.7 | 1.6% | -6.4% | |
| Hobart | All Houses | 442.9 | 1.1 | -0.5% | 7.6% |
| All Units | 412.3 | 8.7 | 4.8% | 10.3% | |
| National | All Houses | 442.0 | 2.0 | 0.5% | 0.7% |
| All Units | 366.0 | -1.0 | -0.5% | 1.7% | |
| Cap City Average | All Houses | 544.0 | 0.0 | -0.4% | -1.4% |
| All Units | 438.0 | -1.0 | 0.0% | -0.5% | |
Source: www.sqmresearch.com.au
from Property UpdateProperty Update https://propertyupdate.com.au/national-vacancy-rates-declined/
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