After soaring to record highs in the past two months, the vacancy rate of Australia’s CBD apartments declined in June, the first time since the outbreak of the new crown virus.
Since March, due to the closure of the border, a large number of Airbnb properties have entered the market, and unemployed workers in the hospitality industry and tourism have to give up renting in the CBD, resulting in a substantial increase in the vacancy rate of many downtown properties. SQM Research general manager Christopher (Louis Christopher) said that the decline in vacancy rate may mean that as the restrictions began to relax, those short-term rental houses were withdrawn from the market, but even so, there are still thousands of apartments vacant. In Melbourne CBD, the vacancy rate dropped to 8.8%.
