In news that won?t surprise prospective renters, the housing rental market is as tight as it?s ever been.
According to Domain?s latest vacancy report, the national rental vacancy rate fell to another record low of 1% in March.
The reopening of borders in March attracted intensified competition for rentals across the country, driving a decline in the vacancy rate.
Melbourne and Sydney had the highest vacancy rate declines from February to March, but finding a rental in Melbourne is the easiest in the country as the capital city?s vacancy rate tops the nation at 1.8%.
Hobart was the only state to record an increase in rental vacancies, but still remains one of the most competitive cities to find a rental property.
Adelaide dropped to a rate of 0.2%, the lowest in Australia, while Perth and Canberra remained constant at 0.5%.