Rental Market
Victoria's vacancy rate went down to 2.2 per cent in January 2024.
cent over the
The vacancy rate across metropolitan Melbourne stayed at 2.3 per month. It was unchanged at 1.1 per cent for outer Melbourne while inner Melbourne saw a decrease to 2.5 per cent. Middle Melbourne's vacancy rate rose per cent.
to 2.3
Regional Victoria's vacancy rate remained unchanged at 2.1 per cent in January 2024. The vacancy rate in the Ballarat and Bendigo region decreased to 1.5 and 2.1 per cent, respectively. Geelong region saw its vacancy rate back to 3.0 per cent after four months.
The median rent in metropolitan Melbourne for houses rose to $570 per week while it continued to rise to $550 per week for units. The median rent for both regional houses and units remained unchanged at $460 and $380 per week, respectively, over the month.
Median weekly rent for houses in the Geelong and Bendigo region went up to $498 and $460, respectively, in January 2024. Rental houses in Ballarat region also saw an increase on their median rents at $430 per week.
