Market Update - June, 2026
The latest data from SQM Research and Domain, shows the rental market vacancy rates at the end of June 2026 still remain in the “very low” range (below 2%) in all capital cities. In short, most market segments remain very competitive. This means that, many prospective tenants are chasing too few available properties. The rental market is expected to remain tight in the coming months as the government policy changes take effect, and interest rates impact availability.
Our key markets…
Adelaide : Despite a slight easing, Adelaide remains the tightest capital city market. While only slightly better than the recent record low of 0.6%, it’s 0.7% vacancy rate is still very low. It means that quality properties continue to be leased extremely quickly, and median rents are continuing to rise. The annual change in median rent for houses increased 4.8% and units increased 5.8%.
Brisbane : After floating between 0.9% and 1.2%, Brisbane, is now at 0.9% vacancy rate. The annual change in median rent for houses increased 7.7% and units increased 4.8%.
Canberra : Known for being highly cyclical, the Canberra rental market eased slightly at 1.7% vacancy rate. The city is seeing plenty of activity, with most listings being leased within a matter of days. The annual change in median rent for houses increased 2.9% and units increased 1.8%.
Melbourne : Looking at the top line numbers, the Melbourne rental market which was easing, is tightening, with the current vacancy rate of 1.6%. However, market performance varies greatly depending on location and price point, and some segments remain extremely competitive. The annual change in median rent for houses increased 1.7% and units increased 4.3%.
(data sourced from Domain and SQM, June 2026)