The residential rental vacancy rate across Australia has fallen to a 16-year low as the country looks forward to the reopening of its international borders for tourists after two years of isolation. SQM Research revealed rental vacancy rates fell sharply to 1.3 percent in January, a drop of 0.3 percent from December and 0.7 percent over the year. Melbourne saw the greatest fall in vacancy compared to one year prior following the reopening of borders to international students in late-2021, sitting at 2.7 percent. The rates in the capital cities of Canberra, Perth, Adelaide, Darwin, and Hobart remain below one percent, and Brisbane hovers above the mark at 1.1 percent. This represents a return to normal long-term averages record prior to the pandemic and SQM Research expects further falls in CBD vacancy rates after more border restrictions are lifted and a slow return to working at an office continues. In …