Rental Property Market
Ballarat
Ballarat’s vacancy rate during the December 2006 quarter increased to 3.3 per cent from 1.5 per cent in December 2006.
The median rental return on a Ballarat house during the December 2006 quarter was $180 per week for a two bedroom house, $213 for three bedroom house and $260 per week for a four bedroom house.
This represents an overall annual increase of 3.7% from the December 2005 quarter.
The median rental return on a Ballarat unit/apartment during the December 2006 quarter was $110 for a one bedroom unit, $165 per week for a two bedroom unit and $235 per week for a three bedroom unit.
This represents an overall annual increase of 2.1% from the December 2005 quarter.
Melbourne
Median rental return on a
This represents an overall annual increase of 7.4% from the December 2005 for a four bedroom houses.
The median rental return on a
This represents an overall annual increase of 9.1% form the December 2005 for a three bedroom units/apartments.
Definitions
The vacancy rate is equal to the proportion of unlet properties to the total rent roll.
The median price is the middle price in a series of sales, giving a more accurate indicator of true market activity compared to average prices.
Affordability is where the average wage increased more than both the median house price and the average loan repayment.
The information provided on this website is only intended to be a guide to market activity; and has been obtained from the Real Estate Institute of Victoria.