Rental Market Snapshot: The Melbourne property market continues to witness unprecedented capital growth, particularly in Melbourne. When buying an investment property rental income is just as important.
Regional Victoria continues to demonstrate better vacancy rates to Metropolitan Melbourne.
According to the The Real Estate Institute of Victoria (REIV) :-
- The proportion of vacant properties in metro Melbourne stands at approx. 6.1% as at 30th June, compared to 6.5% in March 2021 and 5.4% in December 2020.
- The proportion of vacant properties in regional Victoria stands at approx. 1.2% as at 30th June, compared to 1.0% as at 31st March and 1.1% in December 2020.
- The weekly median rent for houses in metropolitan Melbourne fell to approx. $470.
- The weekly median rent for houses in regional Victoria also feel to approx. $395.
Disclaimer – The REIV is the most authoritative source for information about the Victorian rental market with historical vacancy rates from October 2002. The REIV, on a monthly basis, collect current vacancy rates and rental data from Members and view.com.au leases.
