VIC Rental Market Remains Tough Through January
REIV President Leah Calnan said Victoria’s rental market remains tough following another month of low vacancy rates.
The latest rental data from the REIV Vacancy rates remained stable for both metro (2.2%) and regional (1.7%).
Median rents for Melbourne houses remained at $480 per week during January; however, there was some relief for regional renters with the average rent for regional houses having decreased to $350 per week.
Median rents for regional units remained at $290 per week, while those units in the city increased to a weekly rent of $445.