The residential rental vacancy rate for February is 0.8% according to figures released by the Real Estate Institute of Victoria.
The February median rent for houses in Ballarat is $330pw and Units/Townhouses $260pw.
Vacancy rate for metro Melbourne is 2.0 per cent, while regional Victoria was yet again 1.2 per cent.
Median rent for metro Melbourne dropped for houses from $470pw to $450pw and units stayed the same at $430pw. Regional Victoria experienced increases on both houses ($335pw) and units ($275pw).
With lots of movement into Ballarat and increased activity in windfarm and the GovHub contruction we are experiencing high demand for rental properties and our office vacancy rate currently at 0.19%.
We are in urgent need of more rental properties, if you have a property and would like to discuss how we can assist you with finding a tenant and ongoing management please contact Jordan Keast on 0476 666 008.