Australian rental property vacancy rates are considered to be about normal when they are around 3%. When that rate drops, and the supply of suitable vacant properties is low, the natural factors of supply and demand, cause rentals to increase.
Private rental vacancy rates, quoted in June 2008, were:
- 0.3% NT
- 1.0% Vic
- 1.1% NSW
- 1.5% SA
- 2.0% ACT
- 2.2% QLD
- 2.4% Tas
- 2.8% WA
Source: www.fahcsia.gov.au/…/chap4.htm