Saturday, November 1, 2014

Cairnswatch: rental vacancy rates

What is happening with the vacancy rate was the question I asked last month, and is also the question this month from the latest HTW CairnsWatch:

"Though there has been no fundamental change in rental market conditions of late, rental vacancy trends in Cairns have been moving higher in recent months. There is good demand for rental property, but it remains price sensitive, and the demand increase that normally occurs in the July to September period each year has not been as strong as usual this year. There is also a modicum of extra supply is coming into the market from new construction, together with some from homeowners that are relocating away from Cairns, and opting to rent out their properties instead of selling. The trend vacancy rates in September 2014 stood at 2.3% for houses and 3.3% for units. The market vacancy trend overall stood at 2.8%."
Previous post on rental increases in Cairns relative to Townsville and Mackay: Cairns rents fit for a King

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