Residential rents continue to rise as vacancy rates fall further right across Australia, both in the capital cities and in the regional areas.

The best source of information on vacancy rates comes from SQM Research and their managing director Louis Christopher says vacancy rates in six of our capital cities are below 1% and they’re around 2% in both Sydney and Melbourne.

In most regional market, vacancies are well under 1% - and in some places they’re closer to zero than to 1%.

Now, keep in mind that accepted benchmark for a balanced rental market is a vacancy rate of 3% and anything under 3% represents a shortage.

Right now there’s a rental shortage crisis almost everywhere in Australia.