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Another Drop in Vacancy Rates For September

The residential rental vacancy rate in Ballarat have dropped again in September to 1.4% from 1.5% in August, according to the latest figures released by the Real Estate Institute of Victoria.

Ballarat’s median rent for houses in September was $370 per week and the median rent for units/townhouses was $310 per week.

Below is a breakdown of median rents in Ballarat
Houses: 2 bedrooms $300 per week, 3 bedrooms $350 per week, 4 bedrooms $415 per week
Units & Apartments: 1 bedroom $200 per week, 2 bedrooms $283 per week, 3 bedrooms $340 per week

The Regional Victorian vacancy rate has remained the same at 1.3% during September with a median house rent of $400 per week and units $328 per week.

Geelong’s vacancy rate is 1.5% and median house rent $445 per week whilst in Bendigo the vacancy rate is 1.4% and median rent is $380 per week.

The vacancy rate in Melbourne has had a significant drop to 5.0% from 5.7% in August, with their median house rent at $495 per week and whilst units have increased to $420 per week.

Source: REIV

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