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The easing Darwin vacancy rate means greater choice for tenants as more homes, such as this one at 64 Silverleaf Rd, Zuccoli, become available for rent. Picture: realestate.com.au

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The Darwin rental market eased again in November with the vacancy rate increasing for the sixth month in a row to sit a 2.63 per cent.

The latest PropTrack Market Insight Report found Australian renters were experiencing some relief with the national vacancy rate up 0.04 percentage points in November to 1.07 per cent.

PropTrack senior economist and report author, Paul Ryan said in the NT’s capital the vacancy rate lifted 0.18 percentage points last month to sit at 2.63 per cent.

“This was the largest increase of the capital cities and Darwin has the highest vacancy rate in the country,” he said.

“Compared to November 2022, the vacancy rate was up 0.69 percentage points.

“However, Darwin’s vacancy rate remains 42 per cent below pre-pandemic levels in March 2020.”

Michelle Carrington, business development and senior property manager at Elders Real Estate Darwin. Picture: Supplied

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The last decrease Darwin experienced was in May when the vacancy rate dropped 0.15 percentage points to sit at 1.5 per cent.

Elders Real Estate Darwin senior property manager, Michelle Carrington said while the rental market had been easing, with her agency’s vacancy rate sitting at 2.1 per cent for the year, she had noticed positive change in recent weeks.

“November and December are traditionally months of higher vacancy and less demand,” she said.

“The supply increases overall and people tend to vacate and leave town at this time of year.

“But in the past few weeks we’ve felt a slight increase in demand, which is a welcome change and quite positive for this time of year.”

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Ms Carrington said the vacancy rate would tighten once again come January, though she expected a calmer beginning to this new year.

“If you’re a tenant in the current market, now is the time to be looking for property as there is more choice,” she said.

“January and February is when we tend to see people relocate to Darwin, especially those in the defence and medical industries, filling vacancies.”

This home at 5 Edwards St, Parap, is new to the rental market. Picture: realestate.com.au

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The rental market eased across the rest of the Territory in November, according to the PropTrack data.

“In regional NT, the vacancy rate rose 0.62 percentage points month-on-month – the biggest increase in the country – to sit at 2.29 per cent,” Mr Ryan said.

“Over the year, the vacancy rate is sitting 0.56 per cent higher regionally but is still 35 per cent below pre-pandemic levels.”

Across the combined capital cities the vacancy rate lifted 0.07 percentage points to 1.1 per cent.

“Despite the easing, vacancy rates have trended down for over three years following strong rental demand and a slowdown in new construction,” Mr Ryan said.

“Conditions will remain tough for those looking to rent in the new year period amid strong demand.”