Latest rental vacancy data from SQM.
Clearly Melbourne looks like a concern for the moment, vacancies very tight in Canberra and Perth which should be encouraging, Brisbane slightly tighter than January 2011 which is in line with a view that the market here is close to balance in terms of supply.
We have been suggesting this shortage to our clients for a while. People migrating to Perth and very little new house construction – let the good times roll!
Well the Brisbane rental market has been healthy in total so the figures seem to make sense. Even after the flood there wasn't strong growth which indicates a balance between supply and demand, when you get that imbalance you see the crazy rent growth that is still happening in QLD mining areas.
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