Rental Market
Victoria's vacancy rate stayed at 2.2 per cent in March 2024.
The vacancy rate across metropolitan Melbourne went down to 2.1 per cent over the month. Middle Melbourne saw their vacancy rates increasing to 2.7 per cent while it continued to decline for inner Melbourne to 2.2 per cent in March 2024. It remained stable at 1.2 per cent for outer Melbourne.
Regional Victoria's vacancy rate rose to 2.2 per cent in March 2024. The vacancy rate in the Ballarat and Bendigo region increased to 1.5 and 1.9 respectively. Geelong region saw its vacancy rate staying at 3.0 per cent.
per cent,
The median rent in metropolitan Melbourne for houses and units remained stable at $570 and $550 per week, respectively. The median rent for regional houses was also unchanged at $460 per week while it went down to $373 per week for regional units.
Median weekly rent for houses in the Bendigo region went up to $470 per week while it remained unchanged for Ballarat at $420 per week. Rental houses in Geelong region saw a decrease over the month on their median rents to $490 per week.
