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Suburbs close to Melbourne's inner city have been most affected by rising rental vacancies. Photo: Shutterstock

Melbourne moves past Sydney for highest vacancy rate

Melbourne has moved past Sydney to have the highest residential vacancy rate in Australia, with the number of empty rental properties surging past 23,000 in the Victorian capital.

Data from SQM Research showed Melbourne’s residential vacancy rate was a new record-high of 3.8 per cent at the end of …

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