SQM Rentals

SQM Research have updated rental vacancy rates for September. Tabulated for postcodes falling within the Cairns urban area:

Vacancies # Vacancy Rate %
4870 207 1.4
4879 82 2.4
4878 24 0.9
4868 19 0.6
4869 6 0.2
4865 2 0.2

This is consistent with recent data from CairnsWatch and the SQM beta listings series with lower and declining vacancy rates predominantly in areas with predominantly house stock in limited volume and higher rates in areas with unit stock. The proportion of vacancies in postcode 4870 is also well above the proportion of total rental bonds in the Cairns urban area. Declines since May in 4879 (beaches) has now stalled entering a seasonally weaker period. 4870 remains above previous seasonal lows. Port Douglas 4877 trend remains a concern.

SQM don’t break the vacancy rate down by houses and units while the new beta listings series does. These are not the same series as Louis Christopher has previously suggested and what is a listing is not necessarily classified as a vacancy.

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