With Christmas only 3 days from now, the Geelong rental market has given us a little gift with the Geelong Region vacancy rate falling for the second consecutive month.
In fact, the vacancy rate has fallen in all our reporting regions!
This is good news for rental providers, but it isn’t always the best thing to hear as a renter. The vacancy rate graph is below and shows the decline.
With our median rents in town, the prices have remained steady with only a small gain in the 4br category.
Currently, 2 bedroom units and houses are still at $380 per week, 3 bedroom houses are again $440 per week, and 4 bedroom houses are now at $515 per week with that $5 average increase.
Christmas is on Sunday so from all of us Geelong Property Managers, we hope you have a merry, happy and safe Christmas and new year.
We’re not closing, so if you have a vacant property or if you have any questions about the state of the rental market, please feel free to give us a call on 5277 2727. You can also connect on our Facebook page too.
Our page can be found at https://www.facebook.com/GeelongPM