The residential rental vacancy rate in Ballarat has increased to 1.4% in May according to the latest figures released by the Real Estate Institute of Victoria.
Ballarat’s median rent for houses in May has dropped slightly to $380 per week and the median rent for units/townhouses has increased to $325 per week.
Below is a breakdown of median rents in Ballarat
Houses: 2 bedrooms $320 per week, 3 bedrooms $370 per week, 4 bedrooms $430 per week
Units & Apartments: 1 bedroom $210 per week, 2 bedrooms $310 per week, 3 bedrooms $360 per week
The Regional Victorian vacancy rate has increased slightly to 1.7% in May with a median house rent of $420 per week and units $350 per week.
Geelong’s vacancy rate has also increased to 2.4% and median house rent $460 per week whilst in Bendigo the vacancy rate is 2.4% and median rent is $410 per week.
The vacancy rate in Melbourne has decreased slightly to 4.7%, with their median house rent remaining at $500 per week whilst units have increased at $430 per week.
Source: REIV
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