Rental va­cancy rates

The Riverine Herald - Local Real Estate - - LOCALREALESTATE.COM.AU -

Ac­cord­ing to the Real Es­tate In­sti­tute of Vic­to­ria’s most re­cent data on the rental mar­ket, the avail­abil­ity of rental homes has con­tracted slightly in the three months end­ing in July. In re­gional Vic­to­ria, va­cancy rates re­main tight in Bendigo (1 per cent) and in Bal­larat (1.9 per cent) but high in Gee­long, where a rate of 4.7 per cent was recorded. The Real Es­tate In­sti­tute of NSW recorded a slight in­crease in avail­abil­ity of rental homes in the Rive­rina in the past month (2.7 per cent v 2.4), but down since Fe­bru­ary (2.7 v 3.9). More broadly, in re­gional Vic­to­ria a higher va­cancy rate is recorded than in metropoli­tan Mel­bourne, a sit­u­a­tion op­po­site to that re­ported a year ago. Over­all, va­cancy rates are slightly lower than a year ago. At the same time, many REIV mem­bers are re­port­ing less com­pe­ti­tion for va­cant homes than was the case a few years ago.

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