Investment property vacancies extremely low at 1.8% nationally

Vacancies for investment property across all Australian capital cities has remained extremely low at 1.8%. The only exception to this Melbourne which is currently sitting at 3.1% for its investment property vacancies.Nationally, vacancies are dropping by 440 per month.The REIA has classed anything under 3% as a “strong demand for rental accommodation”. Tight vacancy rates like these are good news for property investment. Any property investment advisor will tell you that it means that the supply of property is drying up. This leads to an increase in rents and inevitably and increase in prices in due course.