The national vacancy rate decreased in January, back to 1.0% after the seasonal rise recorded in December. Overall capital city rents rose by 2.4%, with Melbourne experiencing the highest increase at 2.7%, while Hobart and Canberra decreased by 2.9% and 1.3% respectively.

The national vacancy rate increased to 1.3% in December, which has been attributed to seasonal factors by SQM Research, with a warning still in place for extremely tight rental market conditions in January and February. National weekly asking prices have increased by 1.1% over the past 30 days (16 January 2023).