The residential rental vacancy rate in Ballarat has increased slightly to 1.2% in December, up from 1.1% in November according to the latest figures released by the Real Estate Institute of Victoria.
Ballarat’s median rent for houses in December was $370 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 $290 per week, 3 bedrooms $350 per week
The Regional Victorian vacancy rate has increased to 1.3% in December from 1.2% in November with a median house rent of $400 per week and units $350 per week.
Geelong’s vacancy rate is 1.6% and median house rent $450 per week whilst in Bendigo the vacancy rate is 1.8% and median rent is $385 per week.
The vacancy rate in Melbourne has increased to 5.5% from 5.0% in November, with their median house rent increasing to $500 per week whilst units have increased to $420 per week.