Rental Market
Victoria's vacancy rate went down to 2.1 per cent in April 2024.
The vacancy rate across metropolitan Melbourne stayed at 2.1 per cent over the month. Middle Melbourne saw their vacancy rates increasing to 2.9 per cent and it also went up for outer Melbourne to 1.3 per cent in April 2024. It remained stable at 2.2 per cent for inner Melbourne.
Regional Victoria's vacancy rate fell to 2.1 per cent in April 2024. The vacancy rate in the Bendigo region increased to 2.0 per cent while it remained at 1.5 per cent for Ballarat region. Geelong region saw its vacancy rate went down to 2.9 per cent.
The median rent for metro houses reached a new record high with $580 per week while it remained stable at $550 per week for metro units. The median rent for regional houses was unchanged at $460 per week for five consecutive months while it also hit the all-time high at $395 per week for regional units.
Median weekly rent for houses in the Geelong region went up to $500 per week while it remained unchanged for Ballarat at $420 per week for three months in a row. Rental houses in Bendigo region saw a decrease over the month on their median rents to $440 per week.
