The Proprietor Winter 2022 Edition OUT NOW!
As we return to our “Post-Covid Normal”, the residential rental market continues to perform strongly across Ballarat and Regional Victoria.
The residential vacancy rate remains low, with the lowest rate across major regional cities in Ballarat at 1.3%, followed by Bendigo at 1.9% and Geelong at 2.1% in April. The median weekly rent during April saw a rise in Ballarat to $390 per week, up from $380 per week in March. The Alfredton and Lucas markets continue to achieve higher weekly rentals at $420 per week.
With such a low vacancy rate, it does make it difficult for tenants to find and secure rental properties. The number of properties available to rent is reducing for a number of reasons, such as landlords selling their investments and landlords moving family and dependents in. These factors contribute to a number of rental properties no longer available on the open market. It is becoming increasingly critical that renters submit strong applications with all information included to help ensure their application is considered.
As international borders continue to reopen and migration recommences, the number of renters looking for properties will increase. If you have a rental property coming up, please let us know here at Integra Property Management! We have a number of potential renters that we are working with to achieve a great outcome for both them and the rental provider!
For any enquiries related to this issue or Integra Property Management, email firstname.lastname@example.org or call 03 5304 1970.