New figures reveal Hobart has the lowest vacancy rate in Australia.
HOBART has the tightest vacancy rate of any capital city in Australia with new figures revelling it sits at just 0.6 per cent, or 162 properties.
Analysis by SQM Research reveal it improved a little in the past month, but only by 14 extra properties becoming available.
Based on online listings nationally vacancy rates rose to 2.4 per cent for September, up from 2.3 per cent the previous month.
According to SQM Research that equates to 75,412 rental homes being available for rent nationally.
Vacancy rates were still considered reasonably low in Sydney where it was 1.8 per cent and Melbourne 2 per cent.
Adelaide also had a vacancy rate of 2 per cent while in Brisbane it rose to 2.9 per cent during the month.
Vacancies were the highest in Perth where it sat at 5 per cent and in Darwin it was 3.1 per cent.
As vacancy rates rise higher in Perth, asking rents have dropped, down to $431 a week for houses and $343 for units.
Sydney houses still attracted the highest asking rents of $725 a week and units $510 a week.
SQM Research predicted vacancies would continue to rise in Melbourne, Brisbane and Sydney through next year as more apartment stock is released to the market.
SQM Research Weekly Rents Index.Source:Supplied