SOUTHERNERS may find it difficult to rent in Darwin with vacancy rates nosediving as tenants snap up Top End properties.
According to research from Raine & Horne, Darwin’s average rental vacancy rate dropped to 2 per cent in July from 4 per cent.
Raine & Horne general manager Glenn Grantham said the majority of his interstate inquiries were for rental properties, which were dropping off the market fast.
“With our vacancy rates at virtual zero the challenge is to find suitable rental housing for our new arrivals, many of whom are coming here initially as tourists,” he said.
Mr Grantham anticipated many southerners would make the move to the Territory, with many intrigued by the NT’s COVID-19 response.
“We believe many will seek to settle in Darwin to avoid the ongoing impact of the COVID-19 pandemic,” he said.
“Historically, many people move to the Territory after they identify the opportunities here, including the ability to buy or rent a terrific home for a very affordable price.”
The post Rental vacancy rates nosedive as Darwin properties snapped up appeared first on realestate.com.au.