Finding a rental property in Canberra is becoming increasingly difficult as the city’s vacancy rates continues to decline.
As of last month, just 0.7% of properties for rent across the ACT were empty, a decrease of 0.1% from the month before.
Twelve months ago the vacancy rate sat at 1.1%.
The new data from Domain shows Canberra is one of just two capital cities that saw a decrease in vacancy last month with Perth also seeing a drop.
Despite the relatively low number of empty properties available in the Nation’s Capital, finding a rental property is even harder in a number of other cities.
Darwin, Adelaide and Hobart all had lower vacancy rates.
Canberra is already the most expensive place to rent in Australia but this latest report proves tenants in all capital cities outside of Sydney and Melbourne are operating in a landlords market.
Lower vacancy rate continuing to give landlords a strong case to raise asking rents.