April Property Market Update 2025 — The Gallery Real Estate

Vacancy rates showed improvement nationally, dropping to 1.1% in March from 1.5% in January. Sydney’s rental vacancy rate improved to 1.3%, with fewer rental properties available, indicating tighter conditions for tenants.

Rental price growth slowed, with only a marginal 0.2% increase in asking rents across capital cities over the month to mid-April. This slowdown is consistent with the trend of softening rental growth seen since early 2024, suggesting a more balanced rental market.