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Vacancy Rates for February Remain Low

By Steph Horsburgh

The residential rental vacancy rate in Ballarat has remained at 1.1% in February according to the latest figures released by the Real Estate Institute of Victoria.

Ballarat’s median rent for houses in February was $380 per week and the median rent for units/townhouses was $310 per week.

Below is a breakdown of median rents in Ballarat
Houses: 2 bedrooms $300 per week, 3 bedrooms $358 per week, 4 bedrooms $428 per week
Units & Apartments: 1 bedroom $210 per week, 2 bedrooms $298 per week, 3 bedrooms $350 per week

The Regional Victorian vacancy rate has remained the same at 1.3% in February with a median house rent of $418 per week and units $350 per week.

Geelong’s vacancy rate is 1.6% and median house rent $460 per week whilst in Bendigo the vacancy rate is 1.8% and median rent is $400 per week.

The vacancy rate in Melbourne has decreased again to 5.1% from 5.3% in January, with their median house rent dropping slightly at $495 per week whilst units have increased slightly to $425 per week.

Source: REIV

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