This month, data from the REIV is continuing to show the downward-trend of Geelong’s incredible vacancy rate with November’s data showing that it is now only 1.4% across the region.
And just like recent months, the upward-trend continues for Melbourne’s vacancy rate with inner Melbourne at a staggering 6.4%.
The Melbourne total rate is also higher at 4.9% so by comparison of these numbers alone, Geelong is an awesome place to be.
The median weekly rental data is identical to last month across our reporting categories. 2 bedroom units are sitting at a median rent of $330 per week. And in the house measures, 2 bedroom houses are also $330 per week while 3 bedroom houses are still at their $380 per week median.
With Christmas only days away, we are incredibly busy with tenants wanting to secure properties during the holiday period. One of our recent successes was a beautiful home in Newtown which the team and I helped renew. The finished product was amazing and it was only on the market for 8 days before being leased to some very happy tenants. That’s just part of the GPM service and we’ll continue delivering that over Christmas. So if you or someone you know needs help with leasing a property, please feel free to contact me or the team on 5277 2727. Or you can like our Facebook page too.
Our page can be found at https://www.facebook.com/GeelongPM
If you have any questions on the state of the Geelong Rental Market or if you would like to discuss our property management services, please don’t hesitate to give us a call on 03 5277 2727.
