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Ballarat Rental Vacancy Drops To Low 1.9%

By Phillip Lee

It’s good news for landlords and not so good news for tenants as the residential rental vacancy rate in the Ballarat region for November fell 10 basis points to 1.9 per cent.  The Ray White Ballarat rental team ended 2017 with their lowest vacancy rate for the year at 0.19%.

The vacancy rate in regional Victoria fell to 2.1 per cent while in the Bendigo region vacancy rates fell 20 basis points to 1.0 per cent and fell 10 basis points to 1.6 per cent in Geelong. Rents for houses in Geelong fell by five dollars to $350 per week. Those in Ballarat rose by five dollars to $305 per week and those in Bendigo rose to $303 per week.

Victoria’s vacancy rate stands at 2.1 per cent in November 2017. The weekly median rent for houses in metropolitan Melbourne fell by ten dollars to $430 in November. In regional Victoria, the weekly median rent for houses remained at $310 per week in November. The weekly median rent for units remained at $415 per week in metropolitan Melbourne while the median rent for units in regional Victoria remained at $250 per week.

Vacant space across metropolitan Melbourne rose slightly to 2.2 per cent in November. Within Melbourne’s sub-regions, vacancy rates in the middle and outer suburbs remained stable in November, at 3.0 per cent and 1.7 per cent  respectively, while the inner suburbs rose by 10 basis points to 2.0 per cent.     Source: REIV

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