Rental Properties 'See Annual Rise in Vacancies'

There has been a slight increase in the number of available rental properties across Australia, new statistics show.

SQM Research revealed vacancy levels were 0.2 per cent higher last month, when compared with February 2012.

This was despite real estate vacancies remaining largely the same from January this year – recording a 1.9 per cent availability rate, the equivalent of 52,350 properties.

SQM Research admitted the market for houses for rent had "stagnated" slightly, but predicted there would be a noticeable rise in vacancies as sales improve.

The company said it is expecting an influx of first-home buyers this year, which will have a knock-on effect for rental properties.

However, managing director of the organisation Louis Christopher said it could remain a landlord's market in the near term.

He remarked: "While there should be a move of renters turning themselves into first-home buyers this year, it does not seem to be at this stage a major shift."

Overall, the biggest monthly shift in vacancy rates was seen in Melbourne, where there was a 0.3 per cent drop in the number of available properties to 2.7 per cent.

When compared with February 2012, however, there was no change.