National residential rental vacancy rate increased to 1.3%

National residential rental vacancy rate increased to 1.3%

Australia's national residential vacancy rate increased to 1.3% in June 2026, up from 1.2% in May, with the total number of residential vacancies rising slightly to 39,229 dwellings from 37,844 the previous month.

While the increase suggests a modest easing in rental market conditions, vacancy rates remain well below long-term averages, with every capital city continuing to record vacancy rates below 2%, highlighting the ongoing shortage of rental accommodation across Australia.

Advertised rents analysis:

National advertised rents remained elevated through July, with combined rents easing 0.4% over the past 30 days but remaining 8.1% higher than a year ago, highlighting the resilience of rental pricing despite a modest increase in vacancies.

The national combined rent average now stands at $697.43 per week, while the capital city average sits at $793.63 per week.

Nationally, house rents eased 0.5% over the month but remain 8.7% higher over the year, while unit rents declined 0.2% monthly and are 7.1% higher annually, suggesting rental growth is beginning to moderate after a sustained period of strong increases.

Sydney:

Combined rents eased 0.4% for the month but remain 7.6% higher year-on-year, with house rents averaging $1,149.81 per week.

Melbourne:

Combined rents declined 0.3% over the month while remaining 5.9% higher annually, supported by continued demand for well-located properties.

Brisbane:

Combined rents rose 1.0% for the month and are 9.1% higher year-on-year, maintaining one of the strongest annual growth rates among the eastern capitals.

Perth:

Combined rents declined 1.6% over the month but remain 5.0% higher than a year ago, suggesting some easing following an extended period of exceptional rental growth.

Adelaide:

Combined rents increased 0.6% for the month and 3.4% annually, with unit rents continuing to outperform houses.

Canberra:

Combined rents rose 0.7% over the month and 5.8% year-on-year, reflecting improving rental demand.

Darwin:

Combined rents increased 0.9% for the month and 13.8% annually, continuing to record some of the strongest rental growth in Australia.

Hobart:

Combined rents declined 0.9% over the month but remain 12.1% higher year-on-year, reflecting ongoing supply constraints despite recent moderation.

Source: SQM Research