Vacancy rates in all of our main Australian cities have reached super-low rates, with rental stock the tightest it has been, and even lower than it was before COVID.
Many landlords had to deal with unoccupied properties and had to cut their rents significantly during COVID (particular city apartments) to attract tenants - however this trend has now shifted in favour of landlords, who can now expect major rental increases during the year.
If you look at the vacancy rate trend chart below, you will see that vacancy rates now (as at March 2022) are at the lowest levels since March 2019 for all capital cities aside from Melbourne which is just slightly higher.
