Vacancy rates are climbing: more rentals to choose from
After hitting a low of 1.0% in March, the share of rental homes sitting empty has crept up for six months, according to SQM Research.
The trend this year
A vacancy rate around 3% is usually seen as balanced. Even at 1.4%, the market is still tight, but it is moving the right way for tenants.
Source: SQM Research monthly releases.
| Jan | 1.2% |
| Feb | 1.1% |
| Mar | 1.0% |
| Apr | 1.2% |
| May | 1.2% |
| Jun | 1.3% |
| Jul | 1.3% |
| Aug | 1.3% |
| Sep | 1.4% |
Homes for rent
What a vacancy rate actually measures
A vacancy rate is the share of rental homes that are empty and advertised at a point in time. Low vacancy means renters compete for few homes, which pushes rents up. Higher vacancy gives renters more room to choose and negotiate.
SQM Research counts listings that have been advertised for three weeks or more. A rise from 1.0% to 1.4% may sound small, but it means thousands more homes sitting available, and it is the clearest sign this year that the market is loosening.
How to use more choice
- Shortlist a few rooms and compare the total weekly cost, including bills.
- Ask whether there is flexibility on the start date or rent, especially if a room has been listed for a while.
- Listers: refresh your photos and description if your room hasn't had enquiries in a week, and reply to messages quickly.
What it means for you
Renters: more listings means more choice and less pressure to accept the first room you see. Listers: clear photos, a fair price and bills spelled out matter more when renters can compare.
Free to list, free to message, verified members.
- Property Investment Professionals: vacancy rate tracker (SQM data)
- Property Investment Professionals: SQM September 2026 vacancy rate 1.4%
- SQM Research
Figures are from the sources above at the time of writing. This article is general information, not financial or legal advice.