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.
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