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.
Australian residential property values have continued their upward trend in recent months, though June saw a deceleration with both houses and units recording a modest 0.2 per cent monthly increase. The ongoing scarcity of available properties and limited listings has intensified competition, driving up prices in both capital cities and … Read more
Property prices continue to rise nationwide, with significant growth in both metropolitan and regional areas. Regional markets show less dramatic changes, with Western Australia leading despite median prices remaining under $500,000, making it one of the more affordable regions. South Australia and Queensland demonstrate steady growth at 2.6 per cent … Read more