The residential rental vacancy rate in Ballarat has dropped again in October to a 12 month low of 1.2%, down from 1.4% in September according to the latest figures released by the Real Estate Institute of Victoria.
Ballarat’s median rent for houses in October was $360 per week and the median rent for units/townhouses was $318 per week.
Below is a breakdown of median rents in Ballarat
Houses: 2 bedrooms $300 per week, 3 bedrooms $350 per week, 4 bedrooms $420 per week
Units & Apartments: 1 bedroom $200 per week, 2 bedrooms $280 per week, 3 bedrooms $340 per week
The Regional Victorian vacancy rate has dropped to 1.2% in October from 1.3% in September with a median house rent of $400 per week and units $320 per week.
Geelong’s vacancy rate is 1.4% and median house rent $430 per week whilst in Bendigo the vacancy rate is 1.7% and median rent is $380 per week.
The vacancy rate in Melbourne has had another drop to 4.9% from 5.0% in September, with their median house rent staying at $495 per week whilst units have decreased to $415 per week.