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Rental Vacancy Rate Continues Downward Trend In Ballarat

By Phillip Lee

The residential vacancy rate for Ballarat released by the Real Estate Institute of Victoria for June 2018 shows the downward trend continued with a 0.1% drop to 1.2%, the lowest vacancy rate in Ballarat since 2011 and down from 2.4% in July last year.

Our vacancy rate at Ray White Ballarat is at record lows and is currently sitting at 0.38% and has been at zero per cent at times throughout June. The vacancy rate for Regional Victoria is 1.8% and Melbourne 1.9% making Ballarat’s low vacancy rate very attractive for investors.

The median rent for a house in June was $330 per week and $280 per week for units and apartments.

In the last 30 days our office received 948 tenant enquiries which resulted in 440 tenants registering to attend one of the 103 inspections conducted by our Leasing Consultant Kate Brennan. A huge 93.1% of our tenant enquiries are received and inspections booked via our online booking platform Inspect Real Estate with only 6.9% of inspections booked by phone or people walking into our office.

Our weekly rental email of available properties is sent to 2,462 prospective tenants.

Due to huge tenant demand, we need more properties to rent out, call Kate Brennan on 0408 126 084 or our Business Development Manager Jordan Keast on 0476 666 008 if you have a vacant rental property that we could assist with.

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