Many property investors are in a strong position right now, with five of Australia’s capital city rental markets titled heavily in favour of landlords.
Hobart is leading the way, with a vacancy rate of just 0.6%, according to SQM Research. That means just 0.6 out of every 100 rental properties are vacant. That, in turn, means it’s very hard for tenants to find a property, putting upwards pressure on rents.
Adelaide (0.7%), Darwin (0.7%), Canberra (0.8%) and Perth (0.9%) are also landlords’ markets.
Conversely, Sydney (3.3%) and Melbourne (4.5%) are tenants’ markets.
In Brisbane (1.5%), the balance of power is evenly split.
Not only are rents rising in many parts of Australia, but so are property prices, which means landlords are enjoying a double win.
If you’re thinking about buying an investment property, call me to discuss your options.