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.
We now have a new federal government and with that comes change in leadership, policies and the way the country is run. The changing of the guard also comes at an interesting time for our economy and our property markets, with significant change in both since the start of the … Read more
The residential rental vacancy rate in Ballarat has increased to 1.4% in May according to the latest figures released by the Real Estate Institute of Victoria. Ballarat’s median rent for houses in May has dropped slightly to $380 per week and the median rent for units/townhouses has increased to $325 … Read more