The residential rental market in Ballarat finished the year with a vacancy rate of 3.3% for December.
2015 started with a vacancy rate of 2.8% in January dropping to a low for the year of 2.6% in February. It then climbed to over 3% in March with the monthly rate ranging between 3.1% and 3.3% throughout the rest of the 2015.
The REIV regards 3% as the figure that represents a balanced rental market.
Rents in Ballarat remained flat throughout 2015 with most rents ending the year with the same medians at the start of the year. The median rents in Ballarat as reported for December 2015 are as follows:
Houses Units
2 Bedrooms $240pw 1 Bedroom $160pw
3 Bedrooms $280pw 2 Bedrooms $240pw
4 Bedrooms $350pw 3 Bedrooms $290pw
Source: REIV
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