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Vacancy Rates for May Remain the Same

The residential rental vacancy rate in Ballarat remained the same in May at 1.6%, according to the latest figures released by the Real Estate Institute of Victoria.

Ballarat’s median rent for houses in May was $360 per week and the median rent for units/townhouses was $280 per week.

Below is a breakdown of median rents in Ballarat
Houses: 2 bedrooms $285 per week, 3 bedrooms $340 per week, 4 bedrooms $400 per week
Units & Apartments: 1 bedroom $193 per week, 2 bedrooms $275 per week, 3 bedrooms $330 per week

The Regional Victorian vacancy rate has increased again at 1.2% during May up from 1.1% in April with a median house rent of $400 per week and units $320 per week.

Geelong’s vacancy rate is 1.4% and median house rent $430 per week whilst in Bendigo the vacancy rate is 0.9% and median rent is $380 per week.

The vacancy rate in Melbourne dropped to 6.3% from 6.5% in April, with their median house rent sitting at $490 per week and units remaining the same at $400 per week.

Source: REIV

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