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Vacancy Rates Drop in August

The residential rental vacancy rate in Ballarat have dropped in August to 1.5% from 1.6% in July, according to the latest figures released by the Real Estate Institute of Victoria.

Ballarat’s median rent for houses in August was $360 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 $410 per week
Units & Apartments: 1 bedroom $200 per week, 2 bedrooms $280 per week, 3 bedrooms $340 per week

The Regional Victorian vacancy rate has risen to 1.3% during August with a median house rent of $400 per week and units $330 per week.

Geelong’s vacancy rate is 1.5% and median house rent $450 per week whilst in Bendigo the vacancy rate is 1.2% and median rent is $400 per week.

The vacancy rate in Melbourne dropped again to 5.7% from 5.8% in July, with their median house rent still sitting at $480 per week and whilst units have increased to $410 per week.

Source: REIV

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