Australian House Values, Rental Vacancies Continues Decline

A ‘SOLD’ sign is seen outside a house in Canberra, Australia, on Dec. 8, 2021. (AAP Image/Lukas Coch) NO ARCHIVING

Australia’s rental market remains tight as the residential property market continues trending downwards.

Rental vacancies in the CBDs of Sydney and Melbourne fell to 2 percent and 3.4 percent, respectively, in response to the return of international arrivals, according to SQM Research (pdf).