Vacancy Survey 2020 Q1

Landlords will enjoy the declining vacancy rate of 7.47% for 2020 Q1. Vacancies peaked at 9.72% two quarters previously. No doubt the low escalations of 2.94% have helped secure tenants for longer occupation in existing properties. Tenants are particularly price sensitive as revealed in the TPN Tenant Survey which indicated that the majority of tenants “choose” to rent because they cannot afford to buy.