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Strong Rental Market Continues in Ballarat

The July residential rental vacancy rate for Ballarat has decreased to 2.4%, from 2.6% in June according to the latest figures released by the Real Estate Institute of Victoria.

Ballarat’s median rent for houses decreased slightly to $330 per week for July, from $332 per week in June and units/townhouses had an increase to $290 per week from $280 per week in June.

The Regional Victorian vacancy rate dropped from 1.8% to 1.7% over the month, however median house rents continued to remain unchanged on $350 per week, along with units also remaining unchanged at $300 per week.

In Geelong, house rental prices remained unchanged at $400 per week while house rents in Bendigo increased $17.00 to $340 per week from $323.

The vacancy rate in Melbourne increased again to 3.2% from 3.0% in June, median rents for houses in Metro Melbourne decreased $15 to $460 per week from $475 and the median rent for units also decreased, by $10 to $410 per week from $420.

Source: REIV

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