Chart of the Day: Private home vacancy rate eased 0.3 ppt to 6.1% in Q3

Vacant stock fell by 817 units to 22,819.

This chart from Savills Research & Consultancy shows that the vacancy rate of private homes improved by 0.3 ppt to 6.1%, the lowest in almost six years, at the end of Q3 2019. At the same time, vacant stock fell by 817 units to 22,819.

However, the vacancy rate is expected to inch up slightly by the end of the year, as a total of 2,704 private home units are expected to be completed in Q4.

Completions of new private residential properties fell to 1,093 units in the quarter, and stock across the island inched up 0.1% QoQ to 372,085 units by end-September. Partly due to a lack of major project completions, the stock in the CCR shrank for five consecutive quarters, dipping 0.2% QoQ.