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Vacancy Rates Drop To 12 Month Low Again

By Steph Horsburgh

The residential rental vacancy rate in Ballarat has dropped slightly to 1.1% in January, down from 1.2% in December according to the latest figures released by the Real Estate Institute of Victoria.

Ballarat’s median rent for houses in January was $380 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 $295 per week, 3 bedrooms $350 per week

The Regional Victorian vacancy rate has remained at 1.3% in January with a median house rent of $400 per week and units $340 per week.

Geelong’s vacancy rate is 1.5% and median house rent $450 per week whilst in Bendigo the vacancy rate is 1.8% and median rent is $410 per week.

The vacancy rate in Melbourne has decreased slightly to 5.3% from 5.5% in December, with their median house rent remaining at $500 per week whilst units have increased slightly to $423 per week.

Source: REIV

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