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Sydney Suburbia

Good News For Australian Renters As Vacancy Rates Increase Across The Country 

The Australian rental crisis appears to be improving after data group PropTrack released new figures showing vacancy rates increasing across major cities. 

According to the data, rental vacancy rates have increased by 0.02 percent to 1.45 percent while major cities have seen an increase of 0.03 percent to 1.42 percent. 

While the data shows some improvement to the current rental crisis, vacancy rates are still less than half of vacancy rates measured in 2020. 

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Sydney has shown the most improvement with an increase of 0.28 percent while Melbourne increased by 0.16 percent and Brisbane showed no sign of improvement at 1.12 percent. 

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PropTrack believes the increase in rental vacancy has been attributed to more rental properties being put on the market. 

The new data comes as the country continues to grapple with one of the worst housing crisis in Australian history. 

Rents in major cities including Sydney, Melbourne and Brisbane have sky-rocketed due to more people moving from both interstate and overseas. 

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