The residential rental vacancy rate in Ballarat continued it’s downward fall in November dropping again to 1.5%, down from 1.7% in October according to the latest figures released by the Real Estate Institute of Victoria. The vacancy rate hit a high for the year at 2.8% in May and has continued to drop every month since.
Ballarat’s median rent for houses in November was $370 per week and the median rent for units/townhouses was $285 per week.
Below is a breakdown of median rents in Ballarat
Houses: 2 bedrooms $280 per week, 3 bedrooms $330 per week, 4 bedrooms $390 per week
Units & Apartments: 1 bedroom $185 per week, 2 bedrooms $270 per week, 3 bedrooms $325 per week
The Regional Victorian vacancy rate continued it’s drop from 1.2% to 1.1% during November with a median house rent of $380 per week and units $300 per week.
Geelong’s vacancy rate is 1.4% and median house rent $390 per week whilst in Bendigo the vacancy rate is 0.6% and median rent is $390 per week.
The vacancy rate in Melbourne increased again to 4.9%, up from 4.6% in October with their median house rent sitting at $500 per week and units $400 per week.