Weekly Market Update (15 Sept 2023)

Share on facebook
Share on twitter
Share on linkedin
Share on email
Share on print
/
/
Weekly Market Update (15 Sept 2023)
  1. Vacancy Rate (Source: SQM Research)

    The national residential property rental vacancy rate in Australia dropped to 1.2% in August 2023, indicating a housing rental crisis. Most capital cities saw a decrease in vacancies, except for Melbourne and Brisbane CBDs. Regional areas also experienced decreases in vacancy rates. Asking rents in capital cities rose slightly, with house rents increasing more than unit rents. The national median weekly rent for combined dwellings is $584.32, while Sydney has the highest rent at $977.65 and Adelaide has the most affordable rent at $432.87. The rental market is expected to remain tight, leading to a potential increase in homelessness.

 

  1. CoreLogic Auction Results (Week ending 10 Sept 2023
    (Total Auction / Clearance Rate)

    – Sydney: 898 / 67%

    – Melbourne: 1,016 / 65.5%

    – Brisbane: 132 / 59.9%

    – Perth: 13 / 38.5%

    – Canberra: 89 / 50.6%

    – Adelaide: 127 / 79.2%

    – Tasmania: NA / 0%

🟦🟨🟦🟨🟦🟨🟦🟨🟦🟨

If you’re interested in staying updated on the Australian housing market, feel free to reach out to us. You can also follow our Facebook page and Instagram for regular updates on new listings, market trends, statistics, and insightful information.

Leave a Reply

Your email address will not be published. Required fields are marked *

Looking For Real Estate Services?