Rental vacancy rate just 0.8%

Several capital cities have recorded a slight increase in the number of vacant rental properties, but the market continues to strongly favour property investors.

The national vacancy rate in November remained at a record-low 0.8%, according to Domain, which means only 8 out of every 1000 rental properties were empty in the month.

That said, vacancy rates crept up in Sydney, Brisbane, Adelaide, Hobart, and Canberra.

With vacancy rates so low, property investors are in the box seat, because renters have to compete hard to find accommodation.

That explains why rents have risen rapidly throughout 2022.