June 2026 rental snapshot: vacancy rates and rents become less predictable

Article by Alison Cheung Communications Manager 16 July 2026

Australia’s rental market remained historically tight in June, despite showing further signs of easing. The national vacancy rate increased to 1.3% in June 2026, according to SQM Research. National asking rents across houses and units fell to $697 per week, a decline of 0.4% in the 30 days to 12 July 2026. 

Beneath the national figures, however, a different picture emerged across the capitals. While some cities followed the broader trend, others didn’t. Perth saw rental supply tighten even as asking rents fell, while Canberra recorded higher vacancy rates alongside rising rents, suggesting local market conditions are playing a bigger role in shaping rental prices.

City-by-city

Sydney

Rental conditions in Sydney are gradually easing. The vacancy rate ticked up to 1.6%, with 11,957 properties now on the market. Among the capital cities, Sydney has the highest number of rental homes available for rent. 

Asking rents across houses and units dipped by 0.4% over the month to $916 per week, though they’re still sitting 7.6% higher than this time last year. Even with the slight easing, the market remains considerably tighter than historical averages. 

Melbourne

Melbourne held steady this month, with the vacancy rate unchanged at 1.6% and 8,640 rental properties available. 

Asking rents slipped slightly too, down by 0.3% to $692 per week, though they’re still up by 5.9% year-on-year. Of all the capital cities, Melbourne continues to offer some of the more balanced rental conditions.

Brisbane

Competition for rentals in Brisbane shows no sign of letting up. The vacancy rate held firm at 0.9%, while weekly asking rents climbed by 1.0% over the month to reach $752, now up by 9.1% for the year. Strong population growth remains the driving force behind the sustained upward pressure on rents. 

Perth

Perth remains one of the tightest rental markets in the country, with the vacancy rate falling further to 0.6%. 

Interestingly, combined rents moved the other way this month, dropping by 1.6% to $796 per week. That said, annual growth is still firmly positive, with rents up by 5.0% over the past year. 

Adelaide

Limited stock continues to keep Adelaide’s rental market competitive, with the vacancy rate holding steady at 0.7%. Asking rents edged up by 0.6% over the month to $644 per week, bringing annual growth to 3.4%. 

Canberra

Canberra’s easing trend continued this month, with the vacancy rate rising to 1.7% though the number of available homes for rent sits at only 1,063. With such low availability, the slight bump in vacancy hasn’t taken the heat out of pricing just yet: rents rose by 0.7% to $711 per week, up 5.8% on the year. 

Darwin

Darwin remains in a league of its own, holding onto Australia’s lowest vacancy rate at just 0.3% with only 64 homes available. Weekly asking rents rose by 0.9% over the month to $728 per week and annual growth has now reached 13.8%, the strongest of any capital city. 

Hobart

Rental availability in Hobart is still tight, even as the vacancy rate rose to 0.7%. Combined asking rents fell by 0.9% over the month to $607 per week but remain up by a solid 12.1% over the past year. 

Disclaimer: The information enclosed has been sourced from SQM Research and is provided for general information only. It should not be taken as constituting professional advice.    

PropertyMe is not a financial adviser. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances.     

We link to external sites for your convenience. We are selective about which external sites we link to, but we do not endorse external sites. When following links to other websites, we encourage you to examine the copyright, privacy and disclaimer notices on those websites.