Rental Vacancy Rates Jun 2015
The rental vacancy rates have been released by SQM Research for June 2015.
Both Mascot & Botany are showing over 3%, which is usually indicative that it is becoming a tenants market.
In contrast to these statistics, at MyPlace Rentals we have not been experiencing any of the challenges normally associated with a higher vacancy rate when sourcing tenants for our new apartments.
We have just successfully leased a number of properties located at Jasmine on the Park in Botany.
We believe that the spike in current numbers is due to properties all hitting the market at the same time.
Alexandria / Beaconsfield 1.7%
Zetland / Waterloo 1.9%
Rosebery / Eastlakes 2.1%
Vacancy Rate Guide:
Below 2% is considered a tight rental market and termed a landlords market
3% is the balance point between tenants and landlords
Over 3% is considered a tenants market