Rental Crisis in Australia: Why finding affordable home is about to become even ... trends now
Finding an affordable rental has become a lot harder as the national rental vacancy rate plummets to a record low.
The vacancy rate sits at just 1.02 per cent after falling slightly in October, with most major capital cities following the trend according to PropTrack's Market Insight Report.
Renters faced more competition for housing with vacancies down in both capital city and regional areas, PropTrack economist Anne Flaherty said.
'Tenants faced even tougher conditions in October, with the proportion of rental properties sitting vacant falling to the lowest level on record,' she said.
Vacancies in Sydney fell to a record low of 1.11 per cent, more than 60 per cent lower than in