Vacancy Rates Rise
Vacancy Rates Rise
3 August, 2011
The six year shortage of rental properties in Melbourne has begun to ease according to the REIV.
The vacancy rates for rental homes in metropolitan Melbourne rose to 2.2 % in the June quarter, up from 1.7% in the March quarter. For the first time since 2005, all metropolitan areas had vacancy rates of 2% or higher. The inner city vacancy rate now stands at 2.4%, 2.1% of rental properties in middle ring suburbs are vacant and in the outer suburbs the vacancy rate was 2.2%.
Vacancy rates also improved in regional Victoria to 1.5% in the June quarter 2011 up from 1.3% in the March quarter.
