The number of vacant rental properties across Australia has more than halved over the past three years, and a port city in Western Australia has the lowest figures.
PopTrack Economist Anne Flaherty said vacancy at Bunbury is sitting at just 0.45 per cent.
This is the seventh consecutive month Bunbury has had the least empty rentals, followed by Queensland’s Sunshine Coast and Melbourne’s Outer East.
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“Typically, a healthy vacancy rate is defined as being around 3 per cent,” Flaherty said.
“Unfortunately, there looks to be little relief in sight,” she said, “The speed at which new housing is being developed in Australia is slowing, with the number of homes approved for development in 2023 at the lowest level seen in a decade”
Rental availability is likely to deteriorate over the year, meaning more expensive homes and more people looking for share houses or to stay with family.
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