– Over August, the Australian rental vacancy rate dropped to its lowest level since March 2011 at 1.6%.
– Over the month to 4 October 2021, national asking rents rose 0.6% for houses to $535 per week and units rose by 1.7% to $408 a week. This rise across Australia was propelled by the growth in regional locations. SQM Research believes this is likely driven by the lockdowns which may be encouraging those living in capital cities to move to regional areas.
– Over the four weeks to the 5th of October, national asking prices grew by 1.9% for houses and 2.0% for units. During this period, house prices rose by 2.2% while units grew by 0.7% across capital cities.
– Compared to the previous year, houses have grown by 19.2% across Australia, with Sydney and Hobart seeing the biggest increase at 25.4% and 18.0% respectively.
– The cash rate was held unchanged at 0.1%. The board has signalled that the cash rate is likely to remain on hold until 2024 at the earliest.
Source: https://www.propertyme.com.au/blog/industry-news/september-market-update
