1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar

Property News

Shortage of available rental homes in Victoria

March 09, 2012

If you are considering an investment property purchase in Victoria, you may be encouraged by a recent report regarding supply and demand in the region.

Figures from the Real Institute of Victoria (REIV) illustrate a 55 per cent reduction in affordable rental housing over the last decade.

\In ten years beginning from the September quarter in 2001 through to 2011, reasonably priced rental accommodations have reduced from roughly 14,000 to around 8,700 in the city of Melbourne.

The rental vacancy rate in Victoria's capital is 2.4 per cent, while rates vary throughout regional areas of the state and reflect lower availability in Ballarat and Bendigo.

REIV chief executive officer Enzo Raimondo explained the desired property market equilibrium.

He said: "A vacancy rate of three per cent represents a balanced market where renters are generally able to find a home and investors receive a decent return."

As the current vacancy rate in regional Victoria represents a slight advantage to owners at 1.4 per cent, it may be beneficial for potential investors to consider residential real estate investment in the area.

Related Articles

Growth of Geelong North great for Victorian development

Geelong is expected to receive upgrades in the coming years, as the Victorian state government ...
read more

Building approvals on the rise in Victoria

Victoria's residential property sector could be set to benefit from a surge of new properties ...
read more

Melbourne auction market heats up

After a drop in volumes over the Easter break, Melbourne's residential property auction market ...
read more

Latest Articles

Increased construction figures across New South Wales highlight investment strength

Buyers looking for a great area to consider land investment and property construction in the near ...
read more

Regional Victorian home values increase significantly during last 12 months

Regional Victoria has seen house prices rise again during the last quarter, with new data ...
read more

RP Data: Quarterly rental data highlight slowing capital market

Owners of investment property could be interest to see the latest statistics from RP Data, with the ...
read more