The residential rental vacancy rate in Ballarat has dropped again in November to a 12 month low of 1.1%, down from 1.2% in October according to the latest figures released by the Real Estate Institute of Victoria.
Ballarat’s median rent for houses in November was $395 per week and the median rent for units/townhouses was $300 per week.
Below is a breakdown of median rents in Ballarat
Houses: 2 bedrooms $300 per week, 3 bedrooms $350 per week, 4 bedrooms $420 per week
Units & Apartments: 1 bedroom $200 per week, 2 bedrooms $285 per week, 3 bedrooms $350 per week
The Regional Victorian vacancy rate remains unchanged at 1.2% in November with a median house rent of $400 per week and units $340 per week.
Geelong’s vacancy rate is 1.4% and median house rent $450 per week whilst in Bendigo the vacancy rate is 1.7% and median rent is $390 per week.
The vacancy rate in Melbourne has increased slightly to 5.0% from 4.9% in October, with their median house rent dropping at $490 per week whilst units have increased to $413 per week.