There is a slight increase the region’s vacancy rate up .1 of a percent to 1.7%. And the recent increases in median rents for 2 bedroom apartments has eased and now remains at $320 per week which is the same steady figure for 2 bedroom houses. 3 bedroom houses, however, have actually increased to a new high of $370 per week which is $10 more than the previous 6 months.
The median rent for 2 bedroom houses remains at $320 per week while the median rent for 3 bedroom houses also remains steady at $360 per week. The median weekly rental for 2 bedroom units, however, has risen again with another $5 added to a new high of $320 per week.
The median weekly rental rose $5 per week for 2 bedroom units to $315 while the same measure for 2 bedroom houses remains at $320 per week. 3 bedroom houses, however, have a weekly median of $360.
Data from the REIV closes off the summer months with a 1.6% vacancy rate in Greater Geelong which is proof that the rental market is strong.