Most often, vacancy rates are used to determine rental demand and if the vacancy rate is high, that means there is a greater number of homes sitting empty. The Geelong region recorded a slight increase from 1 to 1.3 per cent, the Bendigo region a similar increase from 1.7 to .19 and the Ballarat region an increase from 1 to 1.7 per cent. REINSW produces a monthly rental vacancy rate report, covering the majority of the state. Based on data they collect from the real estate industry members the present the following data for January 2014. Jonathan Chancellor | Oct 20,2015. Volakos notes that even with 475,000 sqm of offices under construction in the CBD alone at the beginning of 2020, the peak vacancy forecast was 5%. REIV's vacancy rate data for June has revealed vacant rental properties shrinking to 1.8 per cent across all of regional Victoria, which contrasted with vacancy rates in Melbourne climbing to 3 per cent. Vacancy rate for regional Victoria in June is 1.8 per cent. With historical vacancy rates from October 2002, the REIV collects vacancy rates and rental data from Members and realestateview.com.au leases on a monthly basis. The numbers released reflect the strong market in the lead up to the State of Emergency, and are consistent with our March quarter median prices. Jul 5, 2017 - The leader in auction, property sales and rental data in Victoria. The weekly rent increased from $382 to $390. Join the Australian Commercial real estate conversation with COMMO our free newsletter. The August release of the REIV’s residential vacancy rates showed that a mere 1.7 per cent of rental homes were vacant, the same as in July this year and slightly better than this time last year when it was 1.4 per cent. Phone . Another way to prevent getting this page in the future is to use Privacy Pass. In this type of market, landlords may … Melbourne’s CBD vacancy rate one year ago, according to the Property Council, was a low 3.2%. Vacancy rate for Melbourne in June is 3 per cent. For a closer look at the Victorian rental market visit https://bit.ly/ REIVrental # reiv # melbre # rental # realestate # reivmarketinsig hts The Regional Victorian vacancy rate climbed from 1.8% to 1.9% over the month, however, median house rents remain unchanged on $350 per week, with units rising to $295 per week. 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. “The State Government needs to work more closlely with property owners, to help build a reliable supply of rental accommodation in Victoria. The REIV's latest data shows that Victoria's rental vacancy rate has dropped to its lowest level of 1.8 per cent since we began collecting the data in October 2002. • The REIV’s latest data shows that Victoria’s rental vacancy rate has dropped to its lowest level of 1.8 per cent since we began collecting the data in October 2002. Rental vacancy rates measure the proportion of unlet residential properties available on the market. reiv_vacancy_rates.jpg. All REIV market statistics are based on data reported directly by real estate professionals and government records. The Regional Victorian vacancy rate climbed from 1.8 per cent to 1.9 per cent over the month, however median house rents remain unchanged on $350 per week, with units rising to $295 per week. The vacancy rate on rental properties across Victoria remained extremely tight last month, a new survey from the Real Estate Institute of Victoria (REIV) has found. Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. REIV President Richard Simpson said a vacancy rate of at least three per cent is required for a healthy rental market: where there is enough vacant housing supply to meet demand. The REIV is one of the regular commentators and analysts of residential rental data across Victoria. REIV It would appear that the shortage of rental homes in the Melbourne market in the past six years has begun to ease. The Regional Victorian vacancy rate climbed from 1.8% to 1.9% over the month, however median house rents remain unchanged on $350 per week, with units rising to $295 per week. Melbourne median rent sits at $400 a week: REIV . Head over to our website for more information: https://bit.ly/3bb539C #reiv #melbre #rental #realestate Vacancy rate The REIV surveys Member agencies to build a register of the percentage of private rental homes that are vacant. Vacant residential space in Melbourne and regional Victoria has been relatively flat over the past four months, with vacancy rates stable at 2.9% and 2.4% respectively. Rental prices continue to grow in Victoria following another month of low vacancy rates. Vacancy rates in Melbourne are 2.3 per cent but need 3-4 per cent for a healthy market. Metropolitan units are also now cheaper to rent, from $450 per week in February down to $430 per week. Cloudflare Ray ID: 64db91ab3d2fc368 Vacancy rates remained stable in regional Victoria with the three main regional centres still having vacancy rate similar to Melbourne. The rental vacancy rate in Melbourne fell from 3.2% in April to 2.8%. Melbourne median rent sits at $400 a week: REIV. The REIV July residential vacancy rates release shows that there has been a slight improvement in the vacancy rate in most parts of Victoria. Mr Simpson said the rental market is already highly competitive with solid turnouts at open for inspections which will only increase as the busy spring period approaches. "Rental prices in regional Victoria are holding firm, with median house rents remaining unchanged on $350 per week for the past six consecutive months. The monthly rental data from the Real Estate Institute of Victoria shows median rents for houses are now more affordable at $470 per week, down from February’s $480 per week, but still higher than the same time last year. This question is for testing whether or not you are a human visitor and to prevent automated spam submissions. This follows a vacancy rate of 2.2% for Melbourne last month. REIV analysis of vacancy rate data has revealed a worrying trend. Keep the conversation going with LUXURY LIST WEEKEND our free newsletter covering Australian luxury real estate. Current low vacancy rate markets: Sydney residential property market (1.9%, REINSW), Melbourne metropolitan residential market (2.5%, REIV) A high vacancy rate… Indicates a poor rental market. Name * Email * Country . The Surf Coast Times is a free newspaper published weekly in the surf coast of Victoria, Australia. By clicking send message I agree to the terms and conditions, privacy policy and to receive correspondence from The Realestate Conversation and Williams Media. Despite the increase over the past year, it remains the tightest office market in the country. If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware. Head over to our website for more information: https://bit.ly/ REIVrental # reiv # melbre # rental # realestate # reivmarketinsig hts Market Snapshot - March 2021 The proportion of vacant properties continued to rise for metro Melbourne (6.5 per cent), while it remained at 1.0 per cent for regional Victoria in the last 3 months. The REIV’s latest data shows that Victoria’s rental vacancy rate has dropped to its lowest level of 1.8 per cent since we began collecting the data in October 2002. Vacancy Rate = the proportion of unlet properties to rent roll (%). Credible, current data and insights to help you understand the Victorian property market. REIV research and analysis reveal that the vacancy rate in Melbourne has eased from 1 per cent in June to 1.3 per cent in July and the rate for Victoria has eased from 1.3 to 1.5 per cent. Take a look at the latest auction and private sales results, median prices, suburb profiles, vacancy rates and more. Contact. Please enable Cookies and reload the page. In Geelong, house rental prices shrunk by $10 to $400 per week, the Ballarat region remained steady on $340 per week, while house rents increased in the Bendigo region by $7 You may need to download version 2.0 now from the Chrome Web Store. The latest figures from the Real Estate Institute of Victoria (REIV) show the vacancy rate dropped to just 1.8 per cent in July. The median rent for houses in … The vacancy rate is simply the number of vacant rental properties that than an agency has on its books divided by the number of rental properties they have. By clicking send message I agree to the terms and conditions, privacy policy and to receive correspondence from The Realestate Conversation and Williams Media. ", Vacancy rates both up and down last quarter to January 2020, Competition for Perth rentals heats up as vacancy rates fall, Keep the conversation going with Recon Daily. Median rents for Melbourne houses remained at $480 per week durin… REIV President Leah Calnan said Victoria’s rental market remains tough following another month of low vacancy rates. • Although there has been some improvement in vacancy rates with metropolitan Melbourne recording 2.3 per cent for two consecutive months, Victoria needs vacancy rates of 3- 4 per cent to maintain a healthy market. Vacancy Rate = the proportion of unlet properties to rent roll (%). The REIV has reported the following snap shot for Victoria. REIV President Richard Simpson said a vacancy rate of at least three per cent is required for a healthy rental market: where there is enough vacant housing supply to meet demand. Rent and Arrears Our vacancy rates are record low - 0.76% compared to REIV's average of 2.9%. Median rents in metropolitan Victoria went from $480 to $470 over the past month. Vacancy Rates, 6-month Average Trend Note: The REIV has adopted the 6-month average trend vacancy as it is less susceptible to monthly supply movements. City rental vacancy rates are improving 2011-07-29 - with Enzo Raimondo CEO. News Melbourne median rent sits at $400 a week: REIV. The median weekly rent in Melbourne increased in the month of May as the rental vacancy rate slightly tightened, according to REIV. The paper incorporates the ultimate coastal property guide - Coastal Properties & Surrounds. July 2020 vacancy rates and median rents are now available. REIV President Leah Calnan said that the temporary measures in place due to COVID-19 make it challenging to gauge the real situation but the underlying strength of the Victorian property market is undeniable. The latest rental data from the REIV Vacancy rates remained stable for both metro (2.2 per cent) and regional (1.7 per cent) areas. Performance & security by Cloudflare, Please complete the security check to access. The rental vacancy rate in Victoria has hit a record low, the state's peak real estate body says, and the swelling population has been blamed. REIV President Richard Simpson said a vacancy rate of at least three per cent is required for a healthy rental market: where there is enough vacant housing supply to meet demand. The monthly rental data from the REIV shows median rental house prices have shot up across Melbourne by $10, with units climbing also by $10 since October 2019.. To review data from previous years the data on vacancy rates is accessible through realestateview.com.au . About me . The August release of the REIV’s residential vacancy rates showed that a mere 1.7 per cent of rental homes were vacant, the same as in July this year and slightly better than this time last year when it … If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. REIV CEO Enzo Raimondo said that although the vacancy rate in Melbourne remained low, it did remain stable, at 1.4%. Rental vacancy rates have also continued to decline in Regional Victoria over the last 15 years and are now at an all-time low of 1.5 per cent (compared with 2.3 per cent in July 2017). The vacancy rate for the Wodonga region at the same time last year was 1.6 per cent. March 2020 vacancy rates and median rents are now available. Vacancy Rate = the proportion of unlet properties to the total rent roll (%). The monthly rental data from the REIV shows median rental house prices have shot up across Melbourne by $10, with units climbing also by $10 since October 2018, following a vacancy rate of 2.2% for Melbourne last month. Rental prices are holding firm in regional Victoria. The latest rental data from the REIV Vacancy rates remained stable for both metro (2.2%) and regional (1.7%). Regional Victorian vacancy rate climbed to 1.9 from 1.8 per cent over the month. Inspect Live is the easiest way to conduct your REI Forms Live condition reports. June 2020 vacancy rates and median rents are now available. The monthly rental data from the REIV shows median rental house prices have shot up across Melbourne by $10, with units climbing also by $10 since October 2018, following a vacancy rate of 2.2% for Melbourne last month. According to the most recent REIV vacancy rates, the availabili­ty of rental homes in the metropolit­an area has improved in the June quarter from a vacancy rate of 1.7 per cent in March to 2.2 … “Population growth, lifestyle trends and property price growth are all having an impact on rental vacancy rates in Victoria,” Mr Simpson said. to sit at $350 per week. Our average rent is 5.8% higher than the median while our arrears rates are lower. Rental prices have fallen in metropolitan Melbourne following a month of some improvement in vacancy rates across the state, say REIV. Message . LLWE 14 May: Design and Diplomacy bring international experience into Melbourne real estate, LLWE 14 May: House-sized Balmoral penthouse with Brisbane city views - Place, LLWE 14 May:  Place sells contemporary Clayfield Californian Bungalow for over $5m, How to destroy your career during a property boom, How to stop the boss stealing your contacts list, Time to rebuild critical business connections, How to get more listings in a tight market, Regional Victorian vacancy rate climbed to 1.9 from 1.8 per cent over the month, Median rents in metropolitan Victoria went from $480 to $470 over the past month, Vacancy rates in Melbourne are 2.3 per cent but need 3-4 per cent for a healthy market. 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