The July residential rental vacancy rate in Ballarat has seen a slight increase to 1.5% for July as indicated by the latest figures released by the Real Estate Institute of Victoria but still well below a balanced rental market of 3%.
The median house price for Ballarat has held steady at $340pw, as have the median prices for units/townhouses at $255pw.
Metro Melbourne’s vacancy rate has again remained steady at 2.2%, however regional Victoria saw another increase to 1.4% which is a similar level to what was seen in September 2018.
The median rents for metro Melbourne houses have shown a $10 decrease, returning to $450pw. Median rents for units however have remained unchanged at $430pw.
Regional median rents saw another increase to $350pw, while units fell to $270pw.
If you have a property and would like to discuss how we can assist you with finding a tenant and ongoing management please contact Jordan Keast on 0476 666 008.
Welcome to this week’s real time residential market insights, we’ve created this document to provide clarity to all our customers on what is happening in the market now. As Australasia’s largest real estate group, selling one in every nine homes across Australia, we are uniquely placed to provide our clients with the … Read more
The August residential rental vacancy rate for Ballarat has fallen to 2.2%, down from 2.4% in July and 2.6% in March according to the latest figures released by the Real Estate Institute of Victoria. This is good news for Ballarat investors and proves how resilient the Ballarat rental market has … Read more