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Vacancy Rates Remain Low

By Sarah Wilson

The residential rental vacancy rate in Ballarat remained the same in December at 1.5%, according to the latest figures released by the Real Estate Institute of Victoria.

Ballarat’s median rent for houses in December was $380 per week and the median rent for units/townhouses was $285 per week.

Below is a breakdown of median rents in Ballarat
Houses: 2 bedrooms $280 per week, 3 bedrooms $330 per week, 4 bedrooms $395 per week
Units & Apartments: 1 bedroom $190 per week, 2 bedrooms $270 per week, 3 bedrooms $328 per week

The Regional Victorian vacancy rate remained the same at 1.1% during December with a median house rent of $380 per week and units $310 per week.

Geelong’s vacancy rate is 1.3% and median house rent $410 per week whilst in Bendigo the vacancy rate is 0.7% and median rent is $350 per week.

The vacancy rate in Melbourne increased again to 5.4%, up from 4.9% in November with their median house rent sitting at $480 per week and units $410 per week.

Source: REIV

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